eXpeTel Communications Teams With LaRue DeCell
To Fund Aggressive Growth Plan
May 10, 2002
JACKSON - eXpeTel Communications, a Flowood-based telecommunications company, announced today that LaRue DeCell, LLC entered into an agreement with eXpeTel as its exclusive advisor for the purpose of raising secondary financing through a Common Stock offering.
The two firms have been discussing secondary financing opportunities over the past few months to fund eXpeTel's aggressive growth plans scheduled for the nine-state BellSouth region over the next few years.
"Our primary reasons for choosing LaRue DeCell included their range of services offered and their expertise in private equity placement," said Ted Parsons, Sr. Vice President of eXpeTel. "Plus, they are a local firm with national contacts," Parsons continued.
LaRue DeCell is a Jackson-based private equity consulting firm specializing in assisting emerging and expanding growth companies prepare and execute capital aggregation strategies. "The timing was right and the company's fundamentals fit our criteria," said Ike LaRue, managing partner of LaRue DeCell. "We have tremendous confidence in our new client and look forward to assisting eXpeTel achieve success in the execution of their business plan," LaRue said.
eXpeTel plans to begin to distribute the Offering in June 2002 primarily to institutional investment firms.
About eXpeTel
eXpeTel Communications serves customers in the states of Alabama,
Louisiana and Mississippi
and is growing rapidly throughout the BellSouth operating territory.
A full-service provider of telecommunications products, eXpeTel
offers an array of services, including local and long-distance
telephone services, high-speed Internet access, and commercial
voice and data services. More information about eXpeTel Communications
can be accessed on the Internet at www.expetel.com.
About LaRue DeCell LLC
LaRue DeCell, LLC is a private equity consulting firm, located in Jackson, MS that works in capital acquisition, capital planning, strategic and growth planning, mergers and acquisitions, market analysis, and management consulting.
About XFONE, Inc.
A U.S.-domiciled corporation, XFONE, Inc. is an international voice, video and data communications services provider with operations in the United Kingdom, the United States and Israel that offers a wide range of services, which include: local, long distance and international telephony services; prepaid and postpaid calling cards; cellular services; Internet services; messaging services (Email/Fax Broadcast, Email2Fax and Cyber-Number); and reselling opportunities. The Company serves customers worldwide. For the Company’s website, please visit: www.xfone.com
This press release contains forward-looking statements. The words or phrases "should," "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." The Company's financial results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this press release, except historical and factual information, represents forward-looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include issues related to rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, and license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.
| For More Information,
Please Contact: |
| U.S. IR Contact |
Israel IR Contact |
Xfone Contact |
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
Phone: 1-203-972-9200
E-mail: jnesbett@institutionalms.com
|
Zvi Rabin
Kwan Communications
Tel: (Israel) +972 50 560 0140
E-mail: zvi@kwan.co.il |
Niv Krikov
Chief Financial Officer
Phone: + 972.39254446 (Israel)
E-mail: niv@xfone.com |
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