Tuesday, June 30, 2009
310 Holdings Inc. Announces Private Placement and New Massachusetts Office Location
NIAGARA FALLS, Ontario, June 30, 2009 (GLOBE NEWSWIRE) -- 310
Holdings Inc. (OTCBB:
TRTN) announced today that it has raised $200,000 in a private
placement of its securities.
The financing has been provided by John Bordynuik Inc. in
exchange for 66,667 restricted common shares at $3 per share. No
warrants were issued. This financing was provided to accelerate 310
Holdings Inc.'s business plan.
Management is confident that the asset sale from John Bordynuik
Inc. will occur as scheduled July 15, 2009. The definitive
agreement to acquire customized tape data migration hardware and
systems from John Bordynuik Inc. was executed on June 25, 2009.
Subsequent agreements to purchase approximately $1M in remaining
related hardware and intellectual property will be announced
shortly.
Since acquiring 310 Holdings Inc. on April 23, 2009, John
Bordynuik, President and CEO of 310 Holdings Inc., has personally
advanced the company $60,000 to facilitate the transition of the
company's operations.
To avoid interruption in tape reading revenue, 310 Holdings Inc.
has incorporated John Bordynuik Inc., a wholly owned subsidiary, in
Nevada. This avoids the necessity of having to undergo a
procurement process for John Bordynuik Inc.'s existing clients.
310 Holdings Inc. is also pleased to announce that we are
opening an office at 500 Technology Square, Cambridge, MA.
Technology Square is famous for the number of information
technology firms located there, lured by the proximity of several
institutions of higher learning. This office will enable us to read
magnetic media from certain data sets that are restricted from
export.
John Bordynuik, 310 Holdings Inc. President and CEO said, "We
already have tapes awaiting delivery to this office as they cannot
be exported out of the United States. In addition, I strategically
selected this site because of its close proximity to researchers
that we intend to hire."
"As well, I would like to address the status of the shares I own
in 310 Holdings Inc. My 40,250,000 shares are all restricted, and
are not registered for resale. I cannot and will not sell any of my
shares on the open market. I am waiting for a medallion signature
so that 10M of my shares will returned to the company treasury to
facilitate acquisitions without diluting the current shareholders,"
stated Mr. Bordynuik.
About 310 Holdings, Inc.
John Bordynuik purchased 63% of the issued and outstanding
shares of 310 Holdings on April 23, 2009. Subsequently, John
Bordynuik was appointed President and CEO of the Company. 310
Holdings Inc signed a definitive agreement to acquire and continue
tape data migration and transcription services of John Bordynuik
Inc. on June 25, 2009.
For more information, please see http://www.310holdings.com and http://www.johnbordynuik.com.
CONTACT: 310 Holdings Inc.
John Bordynuik, President and CEO
john@310holdings.com
Katie Matkowski - Investor Relations
+1 (289) 296-5538
Katie@310holdings.com