Exhibit 99.1
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Contact:
investors@askbeacon.com
Porter, LeVay & Rose, Inc.
Marlon Nurse, V.P. Investor Relations
212-564-4700
Trilogy Capital Partners
Darren Minton, Vice President
800-592-6067 |
Beacon Enterprise Solutions Files 8-K Regarding Closing of Private Placement
New Contracts Contributing to Cash Flow in Current Quarter
LOUISVILLE, KY, November 24, 2009 Beacon Enterprise Solutions Group, Inc. (OTC BB: BEAC)
(www.askbeacon.com), an emerging global leader in the design, implementation and management of high
performance Information Transport Systems (ITS) infrastructure solutions, today announced that
the Company has filed a Form 8-K with the SEC regarding the termination of its pending private
placement.
Beacon has recently announced a series of new contracts and engagements that are contributing
significantly to the Companys revenue and cash flow in the current quarter. As a result, the
Company no longer anticipates a need to raise additional equity capital in the short term and will
terminate its current private placement no later than December 15, 2009.
We have been experiencing sequential quarterly revenue growth and, with the addition of recently
announced ITS infrastructure projects, expect to achieve sustainable profitability in FY 2010,
said Bruce Widener, CEO of Beacon Enterprise Solutions. As a
result of these fundamental developments,
management is confident that we will not require additional rounds of equity capital in the near
future and that cash flow from operations will aid our continued growth.
Over the last two years we have worked diligently to transform Beacon into a global leader in ITS
infrastructure solutions and today have over 120 employees supporting customers in over 20
countries around the world, continued Mr. Widener. Our high profile engagements and consistent
growth are meaningful achievements for a company in our stage of development and we look forward to
sharing additional news of our progress as we continue to execute our plan to rapidly expand our
domestic and global operations.
Beacon
Enterprise Solutions recently announced engagements include a three year ITS
infrastructure management agreement with a fortune 100 pharmaceutical company valued at
approximately $27 million, the design and construction of a data center in Zurich valued at over
$24 million and an engagement to provide outsourced IT management solutions to Hitachi Cable
Indiana.
About Beacon Enterprise Solutions Group, Inc.
Beacon Enterprise Solutions Group is an emerging global leader in the design, implementation and
management of high performance Information Transport Systems (ITS) infrastructure solutions.
Beacon offers fully integrated, turnkey IT infrastructure solutions capable of fully servicing the
largest companies in the world as they increasingly outsource to reduce costs while optimizing
critical IT design and infrastructure management. Through an integrated team approach, Beacon
offers a broad range of products and services including IT infrastructure design, implementation
and management, application development and voice/data/security system integration, installation
and maintenance. Beacons client roster includes state and local agencies, educational
institutions, and over 4,000 companies ranging in size from mid-sized companies to the Fortune 500.
Beacon is headquartered in Louisville, Ky., with regional headquarters in Dublin, Ireland and
Zurich, Switzerland and personnel located throughout the United States and Europe.
For comprehensive investor relations material, including fact sheets, research reports, interviews
and video, please follow the appropriate link:
Investor Relations Portal, Research Report and CEO Overview Video
For additional information, please visit Beacons corporate website:
www.askbeacon.com
This press release may contain forward looking statements. Expressions of future goals and
similar expressions reflecting something other than historical fact are intended to identify
forward-looking statements, but are not the exclusive means of identifying such statements. These
forward-looking statements may include, without limitation, statements about our market
opportunity, strategies, competition, expected activities and expenditures as we pursue our
business plan. Although we believe that the expectations reflected in any forward looking
statements are reasonable, we cannot predict the effect that market conditions, customer acceptance
of products, regulatory issues, competitive factors, or other business circumstances and factors
described in our filings with the Securities and Exchange Commission may have on our results. The
company undertakes no obligation to revise or update any forward-looking statements in order to
reflect events or circumstances that may arise after the date of this press release.
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