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Press Releases
February 3, 2004
WESTPORT, Conn. - February 3, 2004 - IWT Tesoro Corporation announced today that on December 7, 2003, it closed its public offering of 250,000 shares of its common stock fully subscribed at an initial offering price of $5.50 per share. On December 17, 2003, the National Association of Securities Dealers accepted the company for trading on the OTC Bulletin Board exchange, under the symbol IWTT.
The net proceeds received from the public offering were approximately $1.3 million, before transaction costs. The Company expects to use the net proceeds to expand product availability and for working capital.
Noble International Investments Inc. of Boca Raton, Florida was the broker/dealer on the offering. A copy of the prospectus relating to the offering may be obtained at www.sec.gov or from IWT Tesoro Corporation at 191 Post Road West, Suite 10, Westport, CT 06880. The phone number is 203-221-2770.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale will be made only by means of the written prospectus forming a part of the effective registration statement.
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