Multiactive Software to Raise $10 Million
VANCOUVER, British Columbia, March 2 /CNW/ -- Multiactive Software
Inc. (Toronto: E), a leading provider of e-business front office solutions,
announced today that it has agreed with a syndicate led by
Taurus Capital Markets Inc. to issue, on a private placement basis,
approximately 1.9 million special warrants at a price of $5.25 per special
warrant for gross proceeds of $10 million, subject to regulatory approval. The
financing is expected to close on or about March 10, 2000. The net proceeds of
the offering will be released to the company upon closing. Taurus is acting as
agent in the transaction on a best efforts basis and the issue of the special
warrants is not underwritten.
Each special warrant will be exercisable into one common share for no
additional consideration. The company will file a preliminary prospectus in
order to clear the issuance of these common shares in the upcoming weeks. The
net proceeds from the issue of the special warrants will be used by the
company to accelerate the sales and marketing of its award winning software,
Entice!, and for general corporate purposes.
As part of the transaction, upon closing of the financing the company will
issue to members of the syndicate, options to purchase a total of
approximately 119,000 common shares of the company, exercisable within one
year of the issue of the Special Warrants at $ 5.25 per share.
The offered securities will not be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold within the
United States or to, or for the account or benefit of U.S. persons.
About Multiactive Software
Multiactive Software Inc. is a leading developer of innovative e-business,
sales, marketing, and customer management software, including the Entice!(TM),
ecBuilder(R), and Maximizer(TM) product lines. Designed to attract and retain
customers, these award-winning applications are used by more than a million
people worldwide.
Multiactive Software has won numerous awards over its 13-year history.
This includes the recent distinctions of the "Best of COMDEX/Fall 1999" award
from PC WEEK, the Computer Reseller News "Recommended" award, and finalist for
the Software & Information Industry Association's 2000 Codie Awards in the
category of "E-commerce Software - Best Product." Multiactive also won a
Codie award for developing the "Best Internet Commerce Software" of 1999.
The company has offices located throughout North America, Latin America,
Europe, and Asia Pacific and a customer base that includes such leading
companies and institutions as Siemens, BankBoston, Travelers Insurance,
Virgin Records, Pennzoil, and NewSouth Communications. To find out more about
Multiactive Software and its products, call 800-804-6299 or visit
www.multiactive.com.
This release may contain certain forward-looking statements reflecting
Multiactive Software Inc.'s current expectations in the electronic business
and sales and customer management software markets. Investors are cautioned
that all forward-looking statements involve risks and uncertainties,
including, without limitation, changes in market and competition,
technological and competitive developments, and potential downturns in
economic conditions generally. Additional information on these and other
potential factors that could affect the Company's financial results are
detailed in documents filed from time to time with the Ontario Securities
Commission.
CONTACT: Brenda Christensen, VP, Corporate Communications of
Multiactive Software Inc., 818-884-5391, or blcmultiactive.com.
For further information: Brenda Christensen, VP, Corporate
Communications of Multiactive Software Inc., 818-884-5391, or
blc@multiactive.com
/Web site: multiactive.com |
