MIAMI, FL--( May 20, 2010) - SkyPostal Networks, Inc. (OTCBB: SKPN), the largest private postal network in Latin America, announces the completion of a private placement financing totaling $2.26 million in the form of senior secured convertible debt. Littlebanc Advisors, LLC a boutique investment banking firm based in Boca Raton, Fl, acted as exclusive placement agent for the financing.
The proceeds of the offering will be used to rollout SkyShop's merchant technologies that give online merchants the ability to accept international orders without taking on the inherent risks of cross-border shopping. "We believe this financing will enable us to substantially accelerate our progress towards expanding our current consumer parcel business marketed under the PuntoMio brand to include a greater emphasis on merchant oriented e-commerce logistics," said A.J. Hernandez, President of SkyPostal's SkyShop Logistics division. Hernandez added, "Our flexible integrated landed cost technology takes the guess work out of calculating shipping fees, customs duties, taxes, and insurance, protect the merchant from the risk associated with accepting international transactions, and our low cost international logistics network provides global delivery without the high cost of express delivery. It makes it easier for the consumer so that he knows exactly what his purchase will cost delivered to his door including guaranteed customs duties and taxes."
About SkyShop Logistics
SkyShop Logistics is a wholly owned subsidiary of SkyPostal focused on integrated, landed cost delivery of online crossborder purchases. Management's 40 years experience in international courier logistics allows SkyShop to offer online merchants and international consumers the ability to manage cross-border e-commerce without the inherent challenges of international credit cards, customs clearance, foreign taxes and delivery. Its private postal network provides online track and trace visibility at lower costs than the express integrators.
About PuntoMio (www.puntomio.com)
PuntoMio is a shopping portal that facilitates the experience of the online international shopper from the time of purchase through cross-border delivery. It allows U.S.-based Internet merchants to accept international orders without the risks. PuntoMio provides a U.S. address for foreign shoppers to use when shopping online, thus their purchase is made as if they resided in the U.S. PuntoMio is promoted in Europe, Middle East and Latin America through co-marketing partnerships with American Express, Banco Santander, Brazil's Banco Itau, Scotiabank, and other credit card and banking institutions.
PuntoMio's offerings include secure online purchasing and delivery capabilities using its low cost postal network, customs, duties and tax cost calculator, product pricing comparison, and merchandise return capability. Additionally, PuntoMio addresses many of the challenges of online cross-border shopping -- lack of familiarity with the U.S. purchase process, expensive express courier delivery services, U.S. merchants that do not accept foreign credit cards, absence of an international return process, unexpected and often high fees associated with customs clearance and duties, and poor parcel post delivery service provided by the national postal service in their local country.
For more information visit www.puntomio.com
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company.
Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the Company and its business could cause the Company's actual results to differ materially from those indicated in any forward-looking statements.
SkyPostal Networks, Inc.