Intelliquis Secures $2 Million in Private Placement Offering
Friday November 26, 6:32 pm Eastern Time
Company Press Release
SALT LAKE CITY--(BUSINESS WIRE)--Nov. 26, 1999--Intelliquis International Inc. (OTC BB: INTQ - news), a premier provider of personal computer and Internet software, today announced it has secured $2 million in a private placement offering of its common stock from ROBI Investors LLC.
For an aggregate purchase price of $2 million, ROBI Investors LLC purchased 2,000 shares of 6 percent Convertible Series A Preferred Stock, and a warrant to purchase up to 100,000 shares of common stock at an exercise price of $3.03.
Also, for the purchase price of $100, ROBI Investors LLC purchased an additional warrant to purchase up to an additional 3 million shares of 6 percent Convertible Series A Preferred Stock, and 150,000 shares of common stock, for an additional $3 million.
According to Bernard Yaw, president and CEO of Intelliquis International, proceeds from the private placement will be used to expand and market the company's product line.
``With funding in place, Intelliquis is poised to move beyond its Year 2000 product line and focus more on the development and marketing efforts of its other software titles,' Yaw said. ``The company has several Internet titles currently in development, which it will release over the next several months. Proceeds from the funding will help Intelliquis bring these new products to market and adequately support and promote them.'
Intelliquis also plans to use proceeds from the private placement for marketing and development purposes, as general working capital, and for future cash reserves.
About Intelliquis
Based in Draper, Utah, Intelliquis International Inc. (OTC BB: INTQ - news) is a leading provider of software titles for the personal computer market. Intelliquis' Internet, communications, and utility software enable computer users to save time and money while achieving greater productivity in their business and personal computing activities. Intelliquis' software products are available worldwide through retail, VAR, distributor, Internet and OEM sales channels. More information can be accessed from the Intelliquis Web site at www.intelliquis.com.
Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. The realization of any or all of these expectations is subject to a number of risks and uncertainties and it is possible that the assumptions made by management may not materialize. Certain of these risk factors are set forth in the company's SEC Form 10-Q for the quarter ended Sept. 30, 1999.
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Contact:
Intelliquis International Inc., Draper
Waylon Prince, 801/990-2600
wprince@intelliquis.com
or
Wall Street Advancement Inc.
Thomas Gucciardo, 212/732-3400
tgucciardo@aol.com |
