Geospatial Holdings, Inc. (OTC BB:GSPH) recently announced that the Company, through its new financial advisors, ConvertibleCapital, has completed a $1 million equity raise and Mark A. Smith the Company’s Founder andChief Executive Officer is converting $2 million that he has advanced to the Company as a convertible loan, into equity under the same terms as the equity raise.
Between October 1, 2009 and October 6, 2009 the Company sold 2,000,000 shares of Common
Stock at $0.50 per share for an aggregate offering price of $1,000,000. The sales took place in
private placement transactions pursuant to the exemption from the registration requirements of
the Securities Act provided by Regulation D. The purchasers are accredited investors, and the
Company conducted the private placements without any general solicitation or advertisement
and with a restriction on resale.
“It is a real pleasure working with such a professional team as Convertible Capital,” said Mark
A. Smith, Geospatial’s Founder and CEO. “As Geospatial rapidly transitions from a technology
development company to a global infrastructure solutions provider, it is great to have CC as our
long-term partner.”
Geospatial and Convertible Capital are initiating a multi-stage capital raising effort designed to
take advantage of the company’s near term and longer term commercial opportunities while
minimizing dilution.
About Geospatial Holdings, Inc.
Geospatial Holdings, Inc. through its wholly-owned subsidiary Geospatial Mapping Systems,
Inc., doing business as Geospatial Corporation, utilizes proprietary technologies to determine the accurate location and position of underground pipelines, conduits and other underground
infrastructure data allowing Geospatial to create accurate (3D) three-dimensional digital maps
and models of all underground infrastructure. Our website is www.GeospatialHoldings.com.
GeoUnderground, the company’s powerful (GIS) geographic information system database
enables users to view and utilize this 3D pipeline mapping information securely from any
desktop, laptop or PDA such as a Blackberry or an iPhone. GeoUnderground seamlessly
integrates with all known technologies gathering above-ground geo-referenced digital
information and all standard GIS databases.
Licensed users, for the first time, have available to them a suite of technologies allowing them to
collect data and create highly accurate 3D maps and models of both above-ground and belowground infrastructure and view and share this invaluable information in a secure manner with their peers and associates anywhere in the world through a conventional browser via the internet.
Geospatial provides proprietary data acquisition technologies which accurately locate and map
underground and above ground infrastructure assets such as pipelines and surface features via its GeoUnderground web-based portal.
