T.MCF
Attention Business Editors:
Microforum CEO increases position
TORONTO, Feb. 5 /CNW/ - Microforum, Inc. (TSE: MCF) reported that
following the Company's shareholders' approval of the issuance of 1,839,674
common shares at a special meeting of shareholders held on January 20, 1999,
that Howard A. Pearl, the President and Chief Executive Officer of the
Corporation, acquired a total of 1,839,674 common shares of the Corporation on
February 4, 1999. A total of 339,674 common shares were issued to Mr. Pearl
in connection with the conversion of $250,000 principal amount of a promissory
note issued to Mr. Pearl on April 6, 1998 in connection with the acquisition
of PPL Marketing Services Inc. A further 1,500,000 common shares were issued
to Mr. Pearl as part of an adjustment to the Company's purchase of PPL
Marketing Services Inc. Mr. Pearl's average cost base on the shares acquired
through his sale of the PPL Group is now $1.59 per share.
After giving effect to the issuance of 1,839,674 common shares of the
Company, Mr. Pearl now owns a total of 3,276,341 common shares in the capital
of the Company, representing 16.0% of the issued and outstanding common
shares.
Microforum's products and services enable it to deploy, in-house, all of
the elements of a client's on-line e-commerce strategy at a cost-effective
price. Microforum has the infrastructure to provide the proprietary iFront
ECS e-commerce engine, the content and development tools and services to
create a compelling site, the marketing and communications services to build
traffic and to create an awareness strategy, the database, warehousing and
fulfillment services to process and deliver the orders, and the customer
support and call-centers to assist pre and post transaction. Clients to date
include Sony Canada, Rapp Collins (a division of Omnicom), and StorageTek.
Howard Pearl
President & CEO
Frank Iadipaolo
Chief Financial Officer and Secretary
-30-
For further information: INVESTOR INFORMATION - 1-800-444-9214,
irg@invrel.com, www.invrel.com; CORPORATE INFORMATION - Howard Pearl, CEO
and President, Microforum Inc. (905) 670-7000, hpearl@mf.com
MICROFORUM, INC. has 46 releases in this database.
What do you think? |
