SCOTTSDALE, AZ -- (Marketwire) -- 11/19/12 -- WGI Holdings, Inc. (PINKSHEETS: WGIH) wishes to announce that it has signed an agreement with First Swiss International Group Inc. to act as lead funder on a $20,000,000 private placement and as its investment consultant and adviser in connection with WGI Holdings' cloud based business.
"We are pleased to have signed this Agreement with WGI Holdings and to be able to provide them with the financing necessary to grow their business," commented Jeff Thompson, President of First Swiss International Group. "We believe this is an exciting opportunity for WGI Holdings at a time when cloud computing is just starting to hit the mainstream. First Swiss will underwrite the offering and expects to have it closed this year; we will also assist WGI Holdings with the overall growth strategy."
"We are optimistic that WGI's aggressive plan to develop its cloud computing business will benefit from First Swiss's relationships and funding capabilities," commented Gregory Ellis, President and of WGI Holdings. "Having First Swiss as our strategic funding and advisory partner is of enormous importance to our overall execution of our business plan. Will review all opportunities presented to us by our strategic partner with the objective to maximize shareholder value."
The scope of work to be conducted by First Swiss, on top of their money raising commitment, will include representing and advising WGI Holdings on its business activities and other related matters including (a) conducting due diligence with respect to potential target companies and cooperative partners; (b) providing related advice on procedures involved with merger and or acquisition targets; (c) assisting in drafting, reviewing, commenting on and negotiating any related agreements/documents; and (d) providing ongoing regulatory advice with respect to WGI's business.
First Swiss International Group AG is a premier, full-service venture capital, mergers and acquisitions and consulting firm with recognized foreign direct investment, M&A, and finance departments.
About First Swiss International Group AG:
First Swiss is a Swiss based commodities trading and asset management group providing financing and strategic oversight for development projects between USD $50MM - USD $750MM. First Swiss seeks equity partnerships in projects of demonstrable directional and risk advantage and can provide financing with immediacy. Our investment portfolio includes a range of industries and PPIP development concepts, and it is our objective to create an immediate and lasting value impact via our principled and transparent approach.
For further information please visit: www.firstsig.com
About WGI Holdings
WGI Holdings' goal through its operating subsidiary MyBitCloud is to become a leading provider of Personal & Business Cloud services that enable users and organizations to access ALL of their data, anytime, anywhere, and from any supported device.
MyBitCloud will enable users and organizations to have unlimited storage capability while also providing backup, synchronization, access and sharing capability of any file instantly and securely. More information can be found on our website: www.mybitcloud.com
This summary contains forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning the Company's business plans. Such statements are based on management's current expectation and are subject to a number of factors and uncertainties, such as future economic conditions and changes in anticipated revenues and costs, which may cause actual results to differ materially. The Company expressively disclaims any future obligation or undertaking to update or revise any forward-looking statements contained herein. Investors and potential investors should independently investigate and fully understand all risks before making investment decisions.
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