PRESS RELEASE
CONTACT: Ed Truitt Richard Cooper, Robert Schatz
cavion.com Strategic Growth International, Inc.
720-875-1965 516-829-7111
[email protected] [email protected]
CAVION SIGNS TWO-YEAR STOCK PURCHASE AGREEMENT
INSTITUTIONAL INVESTOR COMMITS TO BUY UP TO
1 MILLION SHARES OF COMMON STOCK
ENGLEWOOD. Colo. July 24, 2000 - Cavion (Nasdaq: CAVN) today announced
that it has signed an equity financing agreement that will enable Cavion,
in its discretion, to sell up to 1 million shares of its common stock to
an institutional investor, subject to specified terms and conditions, over
the next twenty four months.
The Company has agreed to register the shares purchased by the investor
with the Securities and Exchange Commission. The Company intends to
obtain shareholder ratification of the transaction. No shares will be
offered for resale by the investor except by means of a prospectus.
ABOUT CAVION:
Cavion offers products and services for secure business-to-business
communications and secure Internet financial products and services
designed specifically for the needs of credit unions. The company's
Internet software products include secure Internet access, online
transactional banking, cellular access, online bill payment, and online
loan decision products along with enabling software for kiosks.
Cavion is also building and managing a secure private communications
network called CUiNET(R) (Credit Union interactive Network) exclusively
for the credit union industry. CUiNET provides a secure, high-speed
communications platform for the delivery of services, transactions and
information to and from credit unions and related organizations, such as
trade organizations, corporate credit unions and credit union vendors.
Cavion, www.cavion.com, currently serves 167 credit union entities in 28
states. The company's headquarters are located at 6446 South Kenton
Street, Englewood, CO 80111. Its telephone number is 720-875-1900.
This press release contains forward-looking statements. Cavion uses words
such as "anticipate", "believe", "expect", "future", "may", "will",
"should", "plan", "projected", "intend" and similar expressions to
identify forward-looking statements. These statements are based on the
company's beliefs and the assumptions it made using information currently
available to it. Because these statements reflect the company's current
views concerning future events, these statements involve risks,
uncertainties and assumptions. The actual results could differ materially
from the forward-looking statements. Some, but not all, of the factors
that may cause these differences are discussed in the risk factors section
of the company`s periodic filings under the Securities Exchange Act of
1934 and its registration statements under the Securities Act of 1933. In
any event, you should not place undue reliance on these forward-looking
statements, which apply only as of the date of this press release.
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