March 30, 2011- MISSION VIEJO, CA—5BARz International Corp. (OTC.BB: BARZ) (hereafter “5BARz” or the “Company”) is pleased to announce that it has recently completed a private placement of 1,000,000 common shares at a price of $1.00 per share for aggregate proceeds of $1,000,000 (one million USD).
The shares were purchased in full by a European institutional investor. The Company issued the securities pursuant to a Regulation “S” exemption from registration for resale. Further, there are no warrants attached to the private placement. Proceeds of the private placement will be used for further corporate acquisitions and general working capital.
“We are very excited to begin the process of realizing our business objectives in commercializing the 5BARz cellular network extender technology,” stated Daniel Bland 5BARz President and CEO. “This first major investment will help further our operational plans and will position 5BARz International to realize meaningful growth over the near and long term.”
About 5BARz International Corp.
5Barz International, Inc. is the exclusive worldwide distributor of 5BARz Cellular Network Extender products developed by Cellynx. The 5BARz technology was awarded the International CES Innovations 2010 Design and Engineering Awards for its new, patent pending 5Barz cellular network extenders.
The 5BARz patent pending products provide the first, plug and play, consumer electronic product that will capture cell signal, amplify it and resend that signal all within a device the size of a clock radio. 5BARz International aspires to service an international marketplace of some 4.8 billion mobile phone users with its breakthrough technology.
5BARz International Corp.’s shares are publicly traded on the NASDAQ OTCBB under the ticker symbol BARZ.
On behalf of the Board of Directors
“Mr. Daniel Bland”
CEO & Director
5BARz International Corp.