News release
If any one knows how this will effect regulatory approval in terms of timing..... let us know.....Thanks
Company Press Release
Sideware Systems Inc. Announces US $8,000,000 Private Placement
VANCOUVER, British Columbia--(BUSINESS WIRE)--July 28, 1999-- Sideware Systems Inc. (VSE:SYD
- news) has arranged a non-brokered private placement in the sum of US $8,000,000.
Under the private placement, 4,878,048 units will be issued at price of US $1.64 per unit, subject
to regulatory approval.
Each unit is comprised of one common share and one share purchase warrant. Each share
purchase warrant entitles the holder to purchase one additional common share of the company
for a period of two years, at a price of US $1.64 per share in the first year or US $1.89 per share in
the second year. A finder's fee of 8% will be paid in cash or securities or a combination thereof,
subject to regulatory approval.
The proceeds in the sum of US $8,000,000 will be used to finance product development, sales
and marketing, company expansion and general working capital.
This US $8,000,000 financing replaces a financing in the sum of US $7,000,000 announced June
15, 1999, which US $7,000,000 financing has been cancelled.
ON BEHALF OF THE BOARD
Grant Sutherland, Chairman
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the
accuracy of this news release.
www.sideware.com
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Contact:
Sideware Systems -- Investor Relations
Richard S. Simpson/Jennifer Burke, 604/988-0440
ir@sideware.com |
