CirTran Announces Additional $2 Million Investment
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Warrants-Driven Stock Purchase Agreement Now Totals $3 Million
SALT LAKE CITY, June 15, 2006 – CirTran Corporation (OTC BB: CIRT), a full-service contract manufacturer of IT, consumer and consumer electronics products, said today it has received the final payment in a recently-announced $1 million private investment in the company.
CirTran President Iehab J. Hawatmeh said the third and final payment – $250,000 – of the $1 million invested in his company by ANAHOP, an Anaheim, California-based company headed by Albert Hagar, was received this week, “ahead of schedule.” CirTran announced on May 30 th that ANAHOP had contracted to purchase 14,285,715 shares of CirTran's restricted common stock for $.07 per share without any registration rights. The initial $500,000 payment was made May 24, the second payment on June 2, with the final payment not having been due until June 30, 2006 .
“Receiving the final payment from ANAHOP more than two weeks ahead of schedule demonstrates their confidence in this investment in CirTran,” Mr. Hawatmeh said.
Mr. Hawatmeh also said that the filming of infomercials for The Real Deal Grill™ featuring four-time world heavyweight champion Evander Holyfield has been delayed for couple of weeks. The infomercials were to have been completed on Saturday.
“This is an exciting time for CirTran, with the private investment of $1 million now complete and the infomercials for the launch of the Real Deal Grill to be completed soon,” Mr. Hawatmeh said.
About CirTran Corporation
Founded in 1993, CirTran Corporation (OTC BB: CIRT, www.CirTran.com) is a premier international full-service contract manufacturer. Headquartered in Salt Lake City, its ISO 9001:2000-certified, non-captive 40,000-square foot manufacturing facility is the largest in the Intermountain Region, providing “just-in-time” inventory management techniques designed to minimize an OEM's investment in component inventories, personnel and related facilities while reducing costs and ensuring speedy time-to-market. In 1998, CirTran acquired Racore Technology ( www.racore.com ), founded in 1983 and reorganized as Racore Technology Corporation in 1997. In 2004, it formed CirTran-Asia as a high-volume manufacturing arm and wholly-owned subsidiary with its principal office in ShenZhen , China . CirTran-Asia operates in three primary business segments: high-volume electronics, fitness equipment and household products manufacturing, focusing on the multi-billion dollar Direct Response Industry.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
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