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If the following press is true, why did Lachman ask to have DVNT deliver Ruth Apfel shares to Ringfeld?
Diversinet Raises U.S. $2.3 Million Through the Exercise of a Warrant
TORONTO--(BUSINESS WIRE)--Dec. 8, 1999--Diversinet Corp. (Nasdaq:DVNT)(CDN:DVNT), a leading
provider of security solutions for wireless e-commerce, today announced that it has raised gross proceeds of U.S.
$2.3 million from 900,000 common shares issued upon the exercise of a warrant.
The warrant was previously issued in connection with a private placement completed by the company in December
1997. The shares were issued to Knockagh International Ltd., that as of today owns approximately 1,350,000, or
6.2% of Diversinet Corp.'s issued and outstanding common shares.
In October 1996, Diversinet acquired from Knockagh the technology that is used in the company's current product
line.
Diversinet currently has approximately CDN $10 million in cash and short-term deposits.
About Diversinet Corp.
Diversinet Corp. (NASDAQ Small Cap: DVNT, CDN: DVNT) is a leading developer of security products based on
public-key technology for wireless e-commerce applications, such as banking, stock trading, financial analysis and
healthcare databases. Diversinet's innovative Passport(TM) software, including authentication, digital certificates,
digital signatures and digital permits, is especially designed for resource-constrained products, such as pagers,
wireless phones and smart cards. Diversinet is a WAP Forum member. Web site: dvnet.com.
This press release may contain forward-looking statements. Among the important factors that could cause the actual
results to differ materially form those indicated by such forward-looking statements are delays in product
developments, undetected software errors and bugs, competitive pressures, technical difficulties, market acceptance,
changes in customer requirements and general economic conditions. All other companies and products listed herein
may be trademarks or registered trademarks of their respective holders.
CONTACT:
Diversinet Corp., Toronto
Ralph Philipps, 416/756-2324 x231
rphilipps@dvnet.com
or
The Investor Relations Group, New York
Dian Griesel, Ph.D., 212/736-2650
TheProTeam@aol.com
KEYWORD: INTERNATIONAL CANADA
BW0546 DEC 08,1999
15:56 PACIFIC
18:56 EASTERN |
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