EMTA Holdings Inc concludes equity private placement

Feb 22, 2008 (M2 EQUITYBITES via COMTEX) -- EMHDE | news | PowerRating | PR Charts -- EMTA Holdings Inc (OTCBB: EMHD), a manufacturer of XenTx, Synergyn and other engine treatment and fuel efficiency products, announced on 21 February that the company has completed a USD1m equity private placement with accredited individual and institutional investors.

The company said no warrants or registration rights have been offered in conjunction with this private placement. It confirmed the private placement will provide requisite capital funds, which will be used for the purchase of raw materials, to fulfil significant new orders and solidify future business. According to the company's chief executive officer, Ed Lonergan, funds are now available to complete the last phase of independent laboratory testing for its low emission diesel fuel catalyst (CB-LE). The company's monthly revenue growth is expected to increase by an additional USD2m by the end of fiscal year 2009, when these tests are completed.

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