Funding for Angel Telecom Corporation

BAAR, Switzerland - Wednesday, December 21st 2011 [ME NewsWire]

(BUSINESS WIRE)-- Angel Telecom Corporation (NASDAQ:AGLT) is pleased to announce that it has successfully closed a capital increase with a group of private investors. The company has received USD 6 million to support and expand the business of its fast-growing Swiss subsidiary Angel Telecom AG, whose main product is based on the unique VOIP trading platform ATTrade and allows VOIP carriers to connect and exchange unlimited VOIP traffic.

Peter Waneck, CEO of Angel Telecom, is delighted to have ‘found a group of investors that understands the company’s potential and is committed to taking it to the next level by providing much-needed financial support on a continuous basis.’ Whereas Angel Telecom has been affected by rocky financial conditions over the last years, Mr. Waneck is confident that the achievement of this significant milestone marks the beginning of a productive and prosperous period.

Contacts

Angel Telecom

Ralf Koehler

+41.41.7674.136