Morning Denise,
I just picked this up now . . .
I have bolded what I believe is the most interesting parts of this news release. I look forward to the rest of the story to be told with this company. By the way, I bought more shares today!
Crazy Canuk
Net Shepherd Closes Financing ...Closes special warrant financing at $1,015,000 on June 9, 1999
CALGARY, June 16 /CNW/ - Net Shepherd Inc. (ASE:WEB), today announced that it has closed its private placement financing of Special Warrants, with financing of $1,015,000 on June 9, 1999. The financing was closed at a price of $3.50 for each Special Warrant and $4.50 for each Share Purchase Warrant, which the holder of the Special Warrant is entitled to purchase within 12 months of closing. Rampart Securities Ltd. was retained as the agent on a best effort basis to handle the funding. A Prospectus is being prepared within 120 days of closing to qualify the Special Warrants. The size of the offering had an estimated maximum value of $5,000,000. The financing was closed at $1,015,000 due to market conditions.
Further financing for technology enhancement will come from other sources. The intended purchase and commercialization of Answers.com, which was announced on May 20, 1999 has presented potential opportunities for financing in the United States and Europe.
Net Shepherd is a leading provider of business solutions to corporations that want to transform the way they do business using the power of the Internet. The Corporation offers a full line of Internet community software solutions, and systems integration services. Additional information on Net Shepherd is available on the 'Net at netshepherd.com. Net Shepherd Inc. is traded on The Alberta Stock Exchange under the symbol WEB. |
