newswire.ca
Microforum Inc. receives final receipts for special unit financing completed on May 10, 1999
TORONTO, July 2 /CNW/ - Microforum Inc. (TSE:MCF) is pleased to announce
that it has received a final receipt from the securities regulatory
authorities in the Provinces of Ontario, British Columbia and Alberta in
connection with a private placement financing for proceeds of $20,150,000
completed on May 10, 1999. Microforum's financing was completed through
Yorkton Securities Inc., Taurus Capital Markets Ltd., Kearns Capital Limited
and Canaccord Capital Corporation by way of sale of 3,100,000 Special Units at
a price of $6.50 per Special Unit. The Special Units will be deemed exercised
for 3,100,000 Common Shares and 1,550,000 Purchase Warrants. Each Purchase
Warrant entitles the holder to subscribe for one Common Share at an exercise
price of $10.00 prior to September 10, 2000. The Company intends to use the
proceeds of the financing for capital expenditures, to reduce indebtedness, to
fund acquisitions and for working capital purposes.
|
