WallStreetGrapevine.com "Spotlight" Alert -RNVO, BCON, BOBJ.

0 Comments | M2 Presswire, November, 2004

M2 PRESSWIRE-22 November 2004-WallStreetGrapevine: WallStreetGrapevine.com "Spotlight" Alert -RNVO, BCON, BOBJ(C)1994-2004 M2 COMMUNICATIONS LTD RDATE:11222004 Renovo Holdings (OTCBB:RNVO - News) announced that the Company recently received the first cash distribution under terms of the $5 million Standby Equity Distribution Agreement (SEDA) between the Company and Cornell Capital Partners, L.P.

Under the SEDA, Cornell has committed to provide up to $5 million of funding to be drawn down at Renovo's discretion by the purchase of the Company's common stock. The Company may request an advance under terms of the agreement during any six-day period in exchange for issuing Cornell shares of common stock. The facility may be used in whole or in part entirely at...