Basis100 up another 48.5% to $17 today on financing news
Basis100 Announces Special Warrant Bought Deal Financing To Raise Cdn$52,500,000
CUSIP No. : 070120 10 0
/Not for distribution to US news wire services or for dissemination in
the United States/
TORONTO, Jan. 20 /CNW/ - Basis100 Inc. (TSE: BAS), an Internet-based e-
commerce solutions provider announced today that it has entered into an
agreement under which a syndicate of underwriters co-lead by RBC Dominion
Securities and Griffiths McBurney & Partners has agreed to buy 5,000,000
Special Warrants at a price of $10.50 each, for aggregate proceeds of
Cdn$52,500,000, subject to regulatory approval. Each Special Warrant shall be
exercisable for no additional consideration to acquire one Common Share of
Basis100, upon the occurrence of certain events and subject to adjustments.
The offering is scheduled to close on or about February 1, 2000.
Concurrently with the announcement of the bought deal, David Beck has
resigned as a Director of Basis100. David is a technology analyst at RBC
Dominion Securities who has been a valuable member of the Basis100 Board
dating back to December 1998.
ABOUT BASIS100
Basis100 Inc. currently operates in North America and is listed on the
Toronto Stock Exchange under the trading symbol BAS. A leading provider of
Internet-based business-to-business e-commerce solutions, the company focuses
on creating mortgage, consumer credit, securitization, and fixed income
electronic marketplaces. Basis100 provides its technology to financial
institutions, intermediaries, and service providers.
For further information: Michael Kraemer, Communications Manager,
Basis100 Inc., (416) 364-6085 Ext: 106, mkraemer@basis100.com |
