James,
Argentum has the expertise and the talent(not to mention the capital) to get great deals presented to them. Argentum I believe is Medsite's largest capital provider through the last two rounds of financing. As my previous post showed JDX has offered options to Argentum for five years in return Argentum allows JDX to add their own seed money to their financing of young companies. Below is a historic NR of JDX's commitment to Medsite.
Jordex Resources Inc
JDX
Shares issued 30,374,357
1999-06-21 close $0.76
Monday Jun 21 1999
Mr. Brian Hinchcliffe reports
Jordex Resources has invested through a private placement $1.0-million (U.S.) in
Medsite.com, Inc., the leading Internet-based provider of e-services to the
medical industry. Medsite.com, Inc. provides its services to the physician and
medical community via various channels that provide e-commerce,
e-communication and e-information within this $31-billion industry. Medsite.com,
Inc. has built an outstanding list of strategic partners with whom they are working
to build an Internet-based network with medical professionals.
The structure of the private placement is an 8-per-cent subordinated exchangeable
note due June 30, 2000, that gives Jordex the right to convert the note to either
convertible preferred stock or common stock of Medsite.com, Inc. The
instrument has an interim maturity date of Nov. 30, 1999, by which date Jordex
must announce its conversion decision. The final maturity for the note is June 30,
2000. This financing represents the fourth round of financing for Medsite.com, Inc.
which has grown rapidly since its inception in 1997.
Jordex is particularly pleased to be joining a prestigious group of institutions in this
private placement.
"Against a six month backdrop of intense Internet-based speculation and volatility,
we have carried out a search for quality businesses that centre on the real
advantages that the Internet offers. We believe Medsite.com, Inc. represents such
an opportunity and will be a profitable investment for Jordex shareholders," stated
Brian Hinchcliffe, Jordex's chairman. "Moreover, the unique, conservative
structure of this, our first Internet investment, along with the quality of our
co-investors should give an extra degree of confidence to the marketplace."
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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