GRAND RAPIDS, Mich., Aug. 12 /PRNewswire-FirstCall/ -- BestNet
Communications Corp. (OTC Bulletin Board: BESC) announced that the board of
directors has appointed Anthony Silverman to fill the vacant board seat. The
Board also reported that it closed its contingent approval to split the
outstanding units into the securities comprising such units, effective the
announced termination date, August 10, 2004. This effort was successful in
converting shares of Series A Convertible Preferred Stock into shares of
common stock, resulting in net proceeds to the company of approximately
$448,000.
Anthony Silverman is a General Partner of Katsinam Partners, LP, an
investment fund focused on Micro and Smallcap public companies located in
Scottsdale, AZ. He also manages his personal investments. He has been a
shareholder of BestNet since April 2002. Silverman was Founder, Chairman and
CEO of Paradise Valley Securities from 1987 to 1999. For most of his 30-year
career in the securities business, Mr. Silverman concentrated in transactions
for the financing of Micro and Smallcap companies. He has led financings
aggregating over $500 million for close to 100 companies, including diverse
industries such as airlines, food products, telecommunications, retail, media
and life sciences.
Richard Bourke, Chairman and interim CEO, said, "We are very pleased to
announce the appointment of Anthony Silverman to our board. He has lent
significant support to BestNet over the years, and his expertise and
relationships in the financial community will continue to benefit BestNet. In
addition, our shareholders have again evidenced their support of BestNet
through the conversion of shares of Series A Convertible Preferred Stock.
These funds will permit BestNet to continue to expand its product offerings,
and extend its reach through a newly focused marketing and sales effort."
About BestNet Communications Corp.
BestNet Communications is a global solutions provider of long distance;
conference calling, ClicktoPhone and custom application-based communication
services. BestNet's services are accessed worldwide via the Internet,
standard phones and wireless devices and are delivered using standard phone
lines and equipment. This results in a cost effective high quality service
for both businesses and consumers.
Under the brand name Bestnetcall(TM) (http://www.bestnetcall.com) the patented
services offer subscribers premium quality calls and conference calling, at
significantly lower rates. Calls and conference calls can also be launched
via a desktop application or handheld devices including Palm(TM), Pocket PC(R)
and Blackberry(TM) and used with any standard or wireless phone. In addition
the company's new ClicktoPhone(TM) service (http://www.ClicktoPhone.com) enables
clients to add secure and anonymous voice communication connectivity anywhere
in the world to web sites, web banners, pictures, electronic documents, and
customized e-mail calling buttons.
This release contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended, which are
intended to be covered by the "safe harbor" created thereby. These statements
include the plans and objectives of management for future operations,
including plans and objectives. The forward-looking statements herein are
based on current expectations that involve judgments with respect to, among
other things, future economic, competitive and market conditions and future
business decisions, all of which are difficult or impossible to predict
accurately and many of which are beyond control of the company. Although the
company believes that the assumptions underlying the forward-looking
statements are reasonable, any one of the assumptions could be inaccurate and,
therefore, can be no assurance that the forward-looking statements included in
this release will prove to be accurate.
SOURCE BestNet Communications Corp.
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Related links:
http://www.bestnetcom.com
http://www.ClicktoPhone.com
CONTACT:
BestNet Communications Corp.,
+1-616-977-9933, investors@bestnetcom.com
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