ARLINGTON, Va., June 8 -- Homeland Security Capital Corp., a company focused on acquiring, developing and consolidating homeland security-related businesses, announced today that on June 1, 2007, it entered into a Securities Purchase Agreement with Cornell Capital Partners, LP, pursuant to which Cornell Capital purchased a secured convertible debenture in the amount of $2,750,000. The company indicated that the proceeds from the sale of the debenture would be used for working capital and investments.
C. Thomas McMillen, chairman and CEO of Homeland Security Capital Corp., said, "We are pleased that Cornell Capital remains committed to our business plan and shares our vision of building an industry leader in the homeland security sector."
