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Dutchess Capital begins 2011 with USD$42 million in Global Equity Line Financings For Mining & Biotech Sectors

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Boston, February 10, 2011 – Dutchess Opportunity Fund, managed by Dutchess Capital, has completed USD$43 million in Equity Line Facilities (ELF) in January 2011 for mining companies Range Resources Ltd. (LSE: RRL) and Lomiko Metals, Inc. (TSX:LMR) and biotech firm Advanced Life Science Holdings, Inc. (OTC BB: ADLS).

Douglas Leighton, managing director of Dutchess stated, “After closing 2010 with $475 million in committed ELF’s, the global growth of equity line facilities as an effective alternative to traditional financing has continued into the new year.  We anticipate more companies selecting ELF’s throughout 2011 as they realize the flexibility and easy access it provides to capital”

An ELF is a financing structure which provides the issuing company with the right (but no obligation) to "draw down" on a pre-determined amount of capital committed by an investor over a specified time period (typically 24-36 months). The company draws down on the ELF by making periodic sales of its common stock to the investor at a pre-negotiated discount. Once a draw is completed (typically over 5-10 days), funds are then transferred to the company. The process may then be repeated pursuant to the terms of the ELF agreement.

About Dutchess Capital
Dutchess Capital is an investment manager which provides creative financing for public companies, Founded in 2000, for over a decade, Dutchess has been a global leader in Equity Line Facilities (ELFs) and has transacted in excess of $1.8 billion in such financings worldwide. The ELF is a flexible financing structure by which publicly traded companies can raise capital quickly, efficiently and with less dilution than most traditional offerings. For more information, please visit www.dutchesscapital.com
 
Contact:
Douglas Leighton
dleighton@dutchesscapital.com
Ph US: 617.301.4701