Financing is in place for global expansion:
Voice Mobility International Strikes Record Financing Deals Worth US $25Million to Launch Its Global Expansion
VANCOUVER, British Columbia--(BUSINESS WIRE)--June 1, 2000--
Company Also Teams With Irish Investment Banker to Raise Additional
Funds in Europe
Voice Mobility International Inc. (OTCBB: VMII) today announced the largest equity financing in its history: a commitment of $25-million (US) from US-based business accelerator InTechnologies Inc. and other existing investors that will jumpstart its plan to market its unified communications software suite in Europe.
Voice Mobility also announced it has signed a letter of intent with Irish investment banker Dolmen Butler Briscoe to raise additional funds from European investors.
Both investments will accelerate Voice Mobility's entry into Europe. "These investments are of profound strategic importance to us and represent a vote of confidence in the long-term success of our technology," said Jay Hutton, Voice Mobility's Chief Executive Officer. "The funds will provide additional working capital to allow Voice Mobility to boost its global sales force and establish international joint ventures. The European market, with numerous service providers that match our target size, represents a sizeable opportunity for Voice Mobility."
The investments are as follows:
-- InTechnologies Inc., a Monarch Beach, California based firm that invests in advanced-stage technology companies, is injecting up to $24-million (US), forming the largest single investment in Voice Mobility's six-year history. "We invest in technology companies that are leaders in their field," said William Noe, InTechnologies' President. "Voice Mobility's unified communications software suite is the best we have seen."
Through five transactions over the next six months, InTechnologies will acquire three million units each consisting of one common share and one common share purchase warrant. The first round of shares and the warrants are priced at $8.00 (US); subsequent pricing for the shares will be adjusted according to Voice Mobility's 20-day moving average share price but will not exceed $8.00 (US).
-- A group of existing Voice Mobility investors will purchase an additional $1-million worth of units under the same terms as InTechnologies Inc., rounding out the total funds committed to $25-million.
-- Dolmen Butler Briscoe, a Dublin, Ireland-based investment bank specializing in the technology sector, is working with Voice Mobility to facilitate its European launch. Dolmen Butler Briscoe's mandate includes raising funds from European investors, introducing the Vancouver company to European joint venture partners and developing Voice Mobility's market profile in Europe.
"Voice Mobility's exceptionally strong team, strategic alliances, financial strength and leading unified communications software points to it being a leader in unified communications in Europe. We are working with Voice Mobility to put the right partnerships in place to deliver this potential," said Neil O'Leary, Managing Director of Dolmen Butler Briscoe's corporate finance arm.
Added Mr. Hutton, "Dolmen is already introducing us to its European joint venture partners and customers and has helped us craft our European business plan."
About Voice Mobility International Inc.
Voice Mobility has developed a unified communications software suite that simplifies voice, fax and email messages through convergence on the Internet. With this software, voice mail, faxes and email can be reviewed, stored and managed using any personal computer, a wireless device or the telephone. Voice Mobility markets its software suite to telephone companies, Internet Service Providers (ISPs), Competitive Local Exchange Carriers (CLECs), Application Service Providers (ASPs) and wireless communications providers.
About InTechnologies Inc.
InTechnologies is a business accelerator offering management expertise, access to markets and capital to companies with proprietary advanced stage technologies. InTechnolgies also acquires interests in or buys companies that develop and distribute information technology to governments and companies in North America and worldwide. Through its corporate associations, InTechnologies will bring Voice Mobility to potential telecommunications partners to form strategic relationships. InTechnologies Inc. has offices located in Monarch Beach, California, Houston, Texas and New York City. InTechnologies is a registered company under the US federal securities laws and has applied for admission to trading on the NASDAQ. About Dolmen Butler Briscoe
Dolmen Butler Briscoe is a Dublin, Ireland-based brokerage, fund management, investment banking and corporate finance firm with a presence in Ireland, Scotland and England. It is committed to bringing its broad base of European contacts to Voice Mobility.
FORWARD-LOOKING (SAFE HARBOR) STATEMENT
This news release contains forward-looking statements that involve risks and uncertainties including, but not limited to, future sales, product demand, growth of the unified messaging industry, competition, the effect of economic conditions and technological difficulties and other risks detailed in the Company's filings with the U.S. Securities and Exchange Commission.
CONTACT:
Voice Mobility International Inc.
Jay Hutton, 604/482-0000
Website: www.voicemobility.com
or
Dolmen Butler Briscoe
Neil O'Leary, Managing Director, 011/353-633-3840
Email: neil.oleary@dbb.ie
or
InTechnologies Inc.
William H. Noe, President, 435/656-3677
Email: intecglobal@aol.com
or
National Public Relations
Roger Noujeim or Ann Gibbon, 604/684-6655
Email: rnoujeim@national.ca
Email: agibbon@national.ca
or
Maxine Barnes, 011/44-207-251-1385
Email: maxinebarnes@msn.com
or
Voice Mobility International Inc.
Investor Relations, Toll Free 1-888-370-8751
Email: investors@voicemobility.com
KEYWORD: NEW YORK TEXAS CALIFORNIA INTERNATIONAL CANADA EUROPE |
