Trimax Announces Financing Commitment of Up to $3.0 Million

Tuesday July 25, 7:00 am ET
Group Holds First Right to Lead Secondary $10 to $15 Million Round of Financing


TORONTO--(MARKET WIRE)--Jul 25, 2006 -- Trimax Corporation and its wholly owned subsidiaries, Multi-Source, Inc. (MSI), and PLC Network Solutions, Inc. (PLC) (OTC BB:TMXO.OB - News), a leading provider of Broadband over Powerline (BPL) communication technologies, is pleased to announce that further to the financing reported in its May 31, 10QSB, it has secured a private placement financing from a private non U.S. accredited group of investors.
The commitment of $1,500,000 US is drawn down in $300K tranches at Trimax's option and matures May 14, 2009 at an annual interest rate of 12%. At the investor's option, the loan is convertible to common shares at the prior 20 day average price. Each common share has one purchase warrant attached, with each warrant exercisable for one common share at $1.25 until May 14, 2009.

The investor has a right of first refusal regarding Trimax's next round of financing which the company is presently in discussions with. Trimax is positioning this financing with a new banking credit facility. Complete details of the financing will be disclosed in SEC Filings.

Proceeds from the private placement provide Trimax with additional financial resources to capitalize on its acquisitions, contracts and partnership opportunities it has closed or been cultivating in recent months.

Derek Pepler, President of Trimax/MSI/PLC, stated: "Our hard work is paying off and this funding will help us upgrade our recent 4600 hotel room acquisition and close on a number of significant contracts in North and South America. With our similar philosophies and vision and complementary expertise and technologies, the combined operations of MSI and PLC have laid a seamless foundation to take advantage of future growth in the BPL sector. We are confident that this foundation of expertise and best of breed technology will combine to deliver outstanding results to our shareholders."


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