Totally Hip Software announces private placement/stock options
VANCOUVER, Jan. 18 /CNW/ - Totally Hip Software Inc.
Canadian Venture Exchange: THW
Totally Hip announces that it has agreed to a private placement of its
securities which will consist of the sale of 882,353 units at a price equal to
yesterday's closing price of the Company's shares less the allowable discount.
Each unit consists of one common share and one non-transferable share purchase
warrant entitling the holder to purchase one additional common share of the
Company at $0.63 per share if exercised during the first year of the warrant,
and at $0.73 per share if exercised during the second year of the warrant.
Management and employees will be participating in the private placement. A
finder's fee will be paid in shares on a portion of the private placement. The
proceeds from the private placement will be used for general working capital
purposes. Any securities to be issued will be subject to hold periods as
required by regulatory authorities.
The private placement is subject to acceptance for filing by the Canadian
Venture Exchange.
The Company will not be proceeding with its $0.30 private placement
announced October 19, 1999.
The Company announces that it has granted Incentive Stock Options on
1,428,500 shares of the Company's capital stock, exercisable up to five (5)
years at a price of $0.51 per share, which price is not lower than the closing
price of the Company's shares on the day prior to this announcement less the
allowable discount.
The options granted may not be exercised until regulatory approval has
been obtained.
Totally Hip Software's mission is to add interactivity to the Web. The
company founded in 1995, is a developer and marketer of interactive Web
development tools. These include the award-winning LiveStage, LiveStage
Professional and WebPainter products that empower users to develop, produce
and deliver the most engaging experience on the Web. The Company is traded on
the Canadian Venture Exchange (Trading Symbol: THW). (c) 2000 Totally Hip
Software Inc. All rights reserved.
TOTALLY HIP SOFTWARE INC.
Per:``Randall H. McCallum'
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Randall H. McCallum, CEO & President
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.
%SEDAR: 00003922E
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For further information: Randall H. McCallum (604) 685-6525,
www.totallyhip.com, email: info@totallyhip.com
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