{"id":1690,"date":"2012-05-22T14:10:00","date_gmt":"2012-05-22T14:10:00","guid":{"rendered":"http:\/\/cloudnewsdaily.com\/?guid=28c3db0958b825ae44d481167e1f3fc8"},"modified":"2012-05-22T14:10:00","modified_gmt":"2012-05-22T14:10:00","slug":"voice-assist-closes-800000-strategic-private-placement","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/voice-assist-closes-800000-strategic-private-placement\/","title":{"rendered":"Voice Assist Closes $800,000 Strategic Private Placement"},"content":{"rendered":"<\/p>\n

Voice Assist, Inc. (speech enabled handsfree safe driving solutions) today announced that it has closed a private placement yielding gross proceeds of $800,000. The terms include the sale of 5,333,333 shares of restricted common stock priced at $0.15 per share. In addition, the company has issued five year callable warrants to purchase up to an additional 5,333,333 shares of common stock at $0.50 per share, which would provide the company with up to $2.6 million of additional working capital if exercised. <\/span><\/p>\n

\u201cWe are excited to participate as a significant strategic shareholder in Voice Assist,\u201d said Paul Arena, Chief Executive Officer of Augme Technologies, Inc.. \u201cThis funding should allow Voice Assist the growth capital to accelerate its market penetration and sales cycle and to continue to innovate its speech platform into the smartphone, automotive and other mobile device industries. We are also impressed with Voice Assist\u2019s intellectual property covering speech-driven browsing of cloud-based address books, music libraries and speech-driven updates to social networks including Facebook, Twitter and leading CRM platforms including Salesforce.com. We see a tremendous growth opportunity in these sectors and feel that Voice Assist is well positioned to become a market leader.\u201d<\/p>\n

\u201cWe believe the growth capital and relationship opportunities provided by strategic investors such as Augme Technologies can support the integration of speech control functionality into mobile marketing,\u201d said Michael Metcalf, Chief Executive Officer of Voice Assist, Inc.\u00a0\u201cWe also appreciate the participation in this private placement by a group of seasoned telecom and digital media executives who understand how our technology can be applied not only to mobile devices but also to landlines, VoIP lines and in other modes of communication.\u201d<\/p>\n

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The funding package was managed by Source Capital Group, Inc., a boutique investment bank focused on emerging growth companies involved in the Communications, Internet, Digital Media, Energy, and Clean Tech industries. \u201cWe\u2019re excited about Voice Assist because its technology can be used on any phone, which opens up a massive market opportunity unlike other solutions, which only run on the data channel of a smartphone,\u201d said Vik Grover, CFA, Senior Managing Director.<\/p>\n

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Proceeds to Accelerate Market Penetration and Technology Growth of its Award-Winning Speech Platform and Services LAKE FOREST, Calif.–(BUSINESS WIRE)–Voice Assist, Inc. (OTCBB: VSST), an award-winning leader in speech …<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[389,390,303,194],"tags":[],"class_list":["post-1690","post","type-post","status-publish","format-standard","hentry","category-private-placement","category-speech-technology","category-venture-funding","category-voice"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/1690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=1690"}],"version-history":[{"count":0,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/1690\/revisions"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=1690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=1690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=1690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}