London-based company MobileMail has announced that it has “received subscriptions to purchase 4,000,000 shares in its common stock at a price of US$0.25 a share for gross proceeds of US$1,000,000″. The funding is expected to close by the end of this year, with the additional capital being used to increase sales and marketing activity, particularly in the Russian market where MobileMail has just signed an exclusive distribution agreement for its two-way PC-to-Mobile messaging technology with NNT Telecom, a leading value-added communications distributor headquartered in Moscow, Russia.
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