For Immediate Release
BIV- Alberta Stock Exchange
BCB VOICE SYSTEMS LAUNCHES NEW SOFTWARE PRODUCT,
EXPANDS U.S. FACILITY AND ARRANGES ADDITIONAL FINANCING
December 17, 1998 - MARKHAM, ON - BCB Voice Systems Inc. (BIV- Alberta Stock Exchange) today announced that it has released PC DART VoiceFLOW, powerful new software that tracks, manages and archives digital voice files over enterprise-wide networks. The Company also announced it is expanding its U.S. headquarters in Tucson, Arizona, and has arranged US$400,000 in additional financing through Flanders Language Valley Fund (FLV Fund), a Belgium-based venture capital group that already holds a 15.3% stake in BCB.
According to BCB's President, Peter Vanderlee, the Company's new software is being released to strong demand, generating immediate orders from six new customers, including Mt. Carmel Medical Center in Pittsburg, Kansas, which will grow BCB's current sales backlog to more than CAN$600,000.
In Tucson, BCB will move from its current 1,500-square-foot office to a 3,800-square-foot facility where a growing number of staff will be focused on providing sales and marketing support, technical and customer support, training and systems configuration. In addition, to further integrate BCB's software with mainstream business applications, an integration laboratory will also be set up at the facility.
To help finance BCB's continuing growth, FLV Fund, which focuses exclusively on investing in speech, language and artificial intelligence technologies, invested in a 10% Five-Year Promissory Note issued by BCB Voice Systems in the principal amount of US$400,000 (approximately CAN$615,000). In connection with the Promissory Note, FLV Fund received warrants to purchase another 505,082 common shares of BCB at US$0.792 (approximately CAN$1.22) per share, anytime on or before December 11, 2000. Ken Murton, Chairman and CEO of BCB advised, "FLV Fund currently holds a 15.3% interest in BCB and, if the warrants issued as part of this private placement are exercised and no other shares are issued, FLV Fund would hold 22.3% of the then issued and outstanding shares of BCB."
BCB Voice Systems develops and markets software and systems that capture, digitize, compress and store voice from a variety of sources and then manages the flow of these voice files over virtually any computer network, including the Internet. The Company supplies solutions to end-users ranging from individual medical and legal practices to large hospitals, legislative assemblies, courthouses and general business. BCB has formed a number of key alliances and is currently integrating its technology with leading voice recognition, case management, document management and medical workflow software.
The Alberta Stock Exchange has neither approved nor disapproved the information herein.
|
