Financing details - true to Lobsinger's word on July 29, the financing did not take place at (the then) current price of CDN $6.
Zi announces $20 million private placement
CALGARY, Dec. 17 /CNW/ - Zi Corporation (TSE: ZIC) (NASDAQ: ZICA) today
announced it has received subscriptions for private placements in the amount
of approximately CDN$20 million (US$13 million). Proceeds from the private
placement are designated to finance Zi's continued growth.
Zi intends to issue 701,316 units at US$19.00. Pricing for the issue was
based on Zi's Thursday, Dec. 16 close of US$19.125. Each unit is composed of
one common share and three quarters of one common share purchase warrant.
Each full warrant may be exercised for 24 months following payment of US$21.00
per share for the first 12 months and US$23.00 per share for the period from
12 months to 24 months after the date of issuance. The transaction is subject
to regulatory approval.
Zi Corporation is a software company making modern electronic technology
more accessible to people in a way that is consistent with their language and
culture. The company's eZiTEXT(TM) input software is licensed in several
languages for devices such as mobile phones, PDAs and TV set-top boxes. Zi's
common shares trade on both the Toronto Stock Exchange (ZIC) and the NASDAQ
stock market (ZICA). Zi markets its technology through strategic partnerships
worldwide from offices in Beijing, Hong Kong, Stockholm, San Francisco and
Calgary.
Certain statements in this press release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. The information in this press release is based on Zi Corporation's
current expectation and assumptions, and is subject to a number of risks and
uncertainties that could cause actual results to differ materially from those
anticipated. Such risks include, among others, general business and economic
conditions and competitive actions as well as the risks and uncertainties
referred to in Zi Corporation's 20-F for the most recent calendar year.
For further information: Karen Attwell, Manager, Investor/Media
Relations, Phone: (403) 233-8875, Email: investor@zicorp.com, Web site:
zicorp.com
To request a free copy of this organization's annual report, please go to
www.newswire.ca and click on reports@cnw. |
