5BARz India, a wholly owned subsidiary of 5BARz International, Inc. (OTCQB: BARZ), (www.5BARz.com) (“5BARz” or “the Company”) a technology leader in the cellular network extender industry, is pleased to announce that it is presenting at the 2nd annual Axis Capital Emerging Champions Conclave 2015 on September 2nd and 3rd in Mumbai, India.
5BARz India has recently begun commercial rollout of the 5BARz™ Network Extender in India having recently received its initial purchase order from a tier one telco in India and expects to receive additional purchase orders from other Indian based tier one telcos in the immediate future. Axis has been engaged by 5BARz India to raise $20 million USD to expand operations in India.
Mr. Samartha Nagabhushanam, CEO of 5BARz India stated, “We believe that there is a tremendous need for our Network Extender in India as we continue to receive positive feedback from the tier one telcos that we have been working with since the beginning of the year. We are excited to be presenting at the Axis capital conference and introducing our company to the local investment community.”
Mr. Daniel Bland stated, “Now that we have begun commercialization it is essential that we raise sufficient operating capital at the subsidiary level. This allows the company to fund the growth of operations without the need to fund at the parent level. In addition, it gives us the flexibility to raise substantial capital as we accelerate growth around the world in a non dilutive manner. We consider this important for our shareholders to understand. Axis has proven to be invaluable as we continue to develop our opportunity in India.”
Axis Capital Ltd. Investment Banking Managing Director, Dr. S. Subramanian stated, “The 2nd annual Emerging Champions Conclave 2015 is great opportunity to showcase some of the innovative Indian companies and are excited that 5BARz India will be presenting at this year’s conference. Now that 5BARz India has begun commercial rollout in India, Axis Capital is now ready to initiate our fund raising efforts.”
For further information about 5Barz International, Inc., visit www.5barz.com, read our SEC filings at http://ir.5barz.com/all-sec-filings.
About 5BARz International Inc.
The 5BARz International Inc. business is focused on the global commercialization of a patented product technology branded under the name 5BARz™. 5BARz™ is a cellular network infrastructure device for use in the small office, home or for when users are mobile. 5BARz™ incorporates a patented technology to create a highly engineered, single-piece, plug ‘n play unit that strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices. 5BARz™ represents a key solution for cellular network operators in providing clear, high quality signal for their subscribers with a growing need for high quality connectivity. 5BARz International Inc.’s shares are publicly traded on the OTCQB under the ticker symbol BARZ.
About Axis Capital Ltd.
Axis Capital Limited is a 100% subsidiary of Axis Bank Limited, a leading private sector bank in India. Axis Capital Limited is India’s leading financial service provider. It’s a registered Merchant Banker with SEBI and members of Bombay Stock Exchange Ltd. and National Stock Exchange Ltd.