New Issue: Fusion Telecommunications secures $2 million through shares placement

By Devika Patel

Knoxville, Tenn., May 24 - Fusion Telecommunications International, Inc. settled a $2 million private placement of stock on Wednesday, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal was conducted by Aegis Capital Corp.

The company sold 14,285,729 common shares.

Investors also received five-year warrants for 7,142,864 shares. One-half of the warrants are exercisable at $0.175, and the balance is exercisable at $0.21.

Proceeds will be used primarily for general corporate purposes.

Fusion is a telecommunications company based in New York.

Issuer:	Fusion Telecommunications International, Inc.
Issue:	Common stock
Amount:	$2 million
Shares:	14,285,729
Warrants:	For 7,142,864 shares
Warrant expiration:	Five years
Warrant strike price:	$0.175 (for 3,571,432 shares), $0.21 (for 3,571,432 shares)
Agent:	Aegis Capital Corp.
Settlement date:	May 19
Stock symbol:	OTCBB: FSNN
Stock price:	$0.17 at close May 19
Market capitalization:	$16.9 million

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