LAS VEGAS--(BUSINESS WIRE)--INSCOR, Inc. Corporation (PINKSHEETS: IOGA) and Zion Capital Ventures announce this morning that the two companies have entered into a binding Exchange Agreement, according to the terms of which Zion Capital Ventures shall provide INSCOR with $700,000,000 (seven hundred million dollars) worth of fixed income investment-grade bonds, in exchange for the equivalent value of INSCOR convertible Preferred shares, with the exchange to be effected upon INSCOR’s Board of Directors authorizing the issuance of a new Preferred series of stock. According to INSCOR Chairman Keith McAllister, the approval of a Board of Directors resolution authorizing said issuance is imminent.
Consummation of the Exchange will significantly strengthen INSCOR’s balance sheet, allowing the third-party lender greater comfort in providing the previously-announced secured financing.
About INSCOR, Inc.:
In its core business, INSCOR, Inc. specializes in the creation and implementation of flexible and effective insurance solutions for organizations serving as many as tens of millions of members across the globe. In the U.S., the Company markets its FIT OPEB plan to municipalities and corporations as a low-cost solution to funding retiree and other employee benefits. In addition, INSCOR’s Financed Insurance Trust plan variation also works for affluent individuals, entertainers and professional athletes -- whether for estate planning or funding cash flow needs. INSCOR's strategy uses a combination of favorable financing terms, innovative uses of specific life insurance products and trusts -- all of which result in minimum levels of out-of-pocket costs for producing significant future funding and revenue stream opportunities. More recently, INSCOR has diversified its holdings and activities to include a broader range of non-insurance interests geared toward adding increased shareholder value.
For more information about INSCOR, contact:
Richard Krabbeler, President
Or visit the company’s website at www.ins-cor.com
About Zion Capital Ventures:
Zion Capital Ventures specializes in offering venture capital and private placements for self-directed and fixed income product-focused clients. Zion Capital Ventures’ clients invest in stocks, bonds, mutual funds, charitable trusts, FDIC-insured certificates of deposit, and exchange-traded funds through a financial representative, or by bidding on Zion’s innovative private placement platform. In addition, Zion Capital Ventures’ affiliates and partners work closely together to meet clients’ venture capital and private banking needs by facilitating money market, checking, charitable remainder trusts and other high-yield banking products via its institutional relationships. For more information about Zion Capital Ventures, please call 1(800)547-1263 or (929)777-2201.