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Tuesday November 16, 4:27 pm Eastern Time
Company Press Release
Digital Gem Announces First Online Public Offering
TORONTO, ONTARIO--Digital Gem Corporation (``Digital Gem', formerly American Gem Corporation) today announced that Northern Securities Inc., its wholly-owned subsidiary, has entered into an agency agreement with Image Sculpting International Inc. (``ISII') for a $3 million public offering of common shares. Northern Securities will act as managing underwriter in the treasury offering of common shares of ISII which will be made over Northern's public offering website.
Vic Alboini, President of Digital Gem and Chairman and Chief Executive Office of Northern Securities (``Northern'), commented: ``We are very pleased to be acting as agent to raise capital for Image Sculpting online through our Public Offering website. Northern is focused on managing most of its online underwritings. We believe the ISII offering will be the first online public offering in Canada that will be made through an investment bank's own website where the investment bank is the sole or the lead underwriter. Furthermore, ISII is exactly the kind of company we want to serve. We're focussing on small and medium-sized businesses with great potential for growth, and that's ISII exactly.'
ISII's business is laser vision correction, laser cosmetic procedures and cosmetic surgery, all conducted at a comprehensive centre in Toronto. ISII recently announced it had entered into two letters of intent for the acquisition of two businesses. The first is the proposed $800,000 acquisition of the assets of the cosmetic surgery practice of Dr. Martin Unger. The second is the acquisition of D.R. Josephson Limited. which has seven fashion optical retail stores in Toronto. The purchase price for this acquisition is 833,333 common shares of ISII, $600,000 in cash and a $700,000 promissory note.
ISII is a public company whose shares trade on the Alberta Stock Exchange under the symbol IIX. Its IPO will be the first to be offered on Digital Gem's new eNorthern on-line IPO site. The launch of that site will be announced soon.
Digital Gem is developing a number of e-commerce websites that will be introduced over the next few months under the banner ``eNorthern'. They will provide a broad spectrum of financial services, from on-line Public Offerings and Securities Trading to Private Placements, Mergers and Acquisitions and on-line commercial mortgages.
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Contact:
Digital Gem Corporation
Bill Cameron
Vice-President of Communications
(416) 481-9988 |
