For Immediate Release
ProMana Solutions Retains AGI Partners, a Starinvest Portfolio
Company, as their new Investment Banking Firm
Parsippany,
NJ, Tuesday, February 21, 2006 -- ProMana Solutions, Inc. (Pink
Sheets: PSLU), a provider of end-to-end Internet based software solutions
for business work flow and human resource management, announced today that it
has engaged AGI Partners as their investment advisory firm. AGI replaces INFE
Ventures, ProMana’s predecessor advisory consultants, to assist ProMana in reviewing
alternative financial strategies for improving shareholder value.
Larry
Kass, President and CEO of ProMana Solutions said, “This new consulting agreement
will provide ProMana Solutions with the expert advice and fundamental advisory
services we need, while freeing up valuable resources so ProMana Solutions can
concentrate on growing its core business and developing new clients.” Mr. Kass
went on to add, “Our heartfelt sympathies go out to the friends and family of
Thomas Richfield, INFE Ventures Principle, who recently passed away after a long
battle with cancer. Replacing INFE Ventures was not an easy thing to do, after
a long and arduous search, we decided to retain AGI Partners, based upon their
expertise in the areas of investment banking as well as their ability to help
develop new business and take advantage of opportunities as they arise.”
In
addition to advising ProMana in the areas of corporate governance, AGI Partners
has entered into a reseller agreement with ProMana. Under the terms of the agreement,
AGI Partners will sell ProMana’s full suite of software solutions as part of a
portfolio of products and services that the company offers to clients across the
United States. AGI will begin marketing the ProMana Solution to its current
clients immediately.
Ike Sutton, CEO of StarInvest commented, “Adding ProMana to our Portfolio of companies
will open a marketing platform for ProMana to expand their sales efforts. ProMana
is a company with a developed software based service company that offers businesses
nationwide savings and employee insurance coverage which are not typically available.”
About
ProMana Solutions
ProMana Solutions (Pink Sheets: PSLU) offers web-native software solutions to
small and medium sized companies worldwide. Its flagship product manages the
entire spectrum of administration, accounting, payroll, benefits, human resources
and a host of other functions for clients. The company’s open architecture utilizes
only Web server applications that integrate easily into clients’ existing operating
platforms and provide a strong value proposition of cost savings for end users.
PSLU shareholders are encouraged to visit www.promanasolutions.com
for more information and to register on the “Investor Relations” page to receive
ongoing ProMana news updates.
About AGI Partners AGI Partners, Ltd AGI is a premier consulting
company with a team of experts in various fields including marketing, corporate
finance, investment banking, corporate and SEC laws and regulations. AGI provides
the following services: Business Plan Preparation, Capital Raising, Feasibility
Studies and Market Research, SEC Filing Assistance, and Corporate Secretary and
Daily Administration. .
About
StarInvest – StarInvest Group is a Business Development Company (BDC) located
in New York City. BDCs are publicly-traded, closed-end investment companies regulated
by the Investment Company Act of 1940. StarInvest Group was founded on the premise
that the magnitude and consistency of investment returns can be significantly
enhanced by combining both operational talent and financial talent within a single
private equity investment firm. For more information visit, www.starinvestgroup.com.
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Legal Notice Regarding Forward-Looking Statements: “Forward-looking statements''
as defined in the Private Securities Litigation Reform Act of 1995 may be included
in this news release. These statements relate to future events or our future financial
performance. These statements are only predictions and may differ materially from
actual future results or events. PSLU disclaims any intention or obligation to
revise any forward-looking statements whether as a result of new information,
future developments or otherwise. There are important risk factors that could
cause actual results to differ from those contained in forward-looking statements,
including, but not limited to risks associated with changes in general economic
and business conditions (including in the information technology and financial
information industry), actions of our competitors, the extent to which we are
able to develop new services and markets for our services, the time and expense
involved in such development activities, the level of demand and market acceptance
of our services, and changes in our business strategies.
Source: ProMana Solutions (Pink Sheets: PSLU)
Investor
Relations Contact (212) 338-0001
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Source: StarInvest Group, Inc.