New Release: Looks like the Unified Messaging Service for wireless could be future of the company.
Markham, ON - February 8, 2000
MC2 LEARNING SYSTEMS ANNOUNCES COMPLETION OF $25,000,000 PRIVATE PLACEMENT OF
SPECIAL WARRANTS
MC2 Learning Systems Inc. ("MC2") (CDNX: MCZ.A) announces that it has completed
the previously reported private placement of 2,500,000 Special Warrants (each
exchangeable for 1 Class "A" Common Share) for total gross proceeds of
CDN$25,000,000. The lead agent for the private placement of Special Warrants
was Canaccord Capital Corporation with syndicate participation by National Bank
Financial Inc. and Scotia Capital Inc.
Proceeds from the Offering will be allocated as follows: approximately 60% of
the funds will be used to pursue new business and technology licensing
opportunities in the unified messaging services ("UMS") market and
approximately 40% to continue developing education and commercial markets for
MC2's FirstClass Intranet Server Gold ("FCIS Gold") and FirstClass
Collaborative Classroom Gold ("FCCC Gold") software.
UMS unifies email, voice mail and fax in a single mailbox accessible via
computer through a client or Web-browser, personal digital assistants ("PDA"),
telephone and a number of devices yet to emerge. With UMS, users can
communicate efficiently and securely, regardless of location, communications
device or the connection used.
MC2 has extensive experience in the development of communications and
knowledge-sharing tools; its FirstClass line of software products (FCIS Gold
and FCCC Gold) is highly regarded worldwide and has won numerous awards. Given
its engineers' expertise in computer-telephony integration, MC2 is uniquely
positioned for some of the most exciting opportunities in the UMS arena.
According to Unified Messaging Software Market Forecasts and Trends, a report
published by International Data Corporation ("IDC") in August 1999, UMS "is
expected to become a billion dollar plus market in 2002."
"A prototype UMS system has been running in our offices since January 1998,"
said Myles McGovern, President and CEO of MC2. "Given the escalating enterprise
market demand for reliable systems that give knowledge workers access to their
voice, fax and email messages through a single mailbox, anytime, anywhere, we
believe that there will be viable opportunities to license this technology to
communications companies and systems integrators." MC2's decade of experience
in developing robust software tools that meet customers' needs for reliable
communications and collaboration solutions is being leveraged as the company
enters the UMS market.
MC2's innovative UMS technology and the commitment of its executive team to UMS
as a strategic focus, together with the early partnerships MC2 has embarked
upon, will enable the Corporation to capitalize on this opportunity. MC2 will
also focus on growing existing education and commercial markets for FCIS Gold
and FCCC Gold, innovative communication/collaboration solutions that help
organization build online communities.
About MC2 Learning Systems Inc.
MC2 Learning Systems Inc. is an innovative Canadian-based, publicly traded
Corporation dedicated to global communication and collaboration. Its primary
business is the development, marketing and distribution of global communication
and collaboration software applications: FirstClass Intranet Server, FirstClass
Collaborative Classroom and Zebu. The Corporation comprises three business
units: education and commercial markets, and unified messaging services
development.
MC2 serves over 4.5 million users in more than 8,000 organizations in 55
countries, capturing 5.4% of the worldwide collaboration tool market. MC2's
shares are traded on the Canadian Venture Exchange under the symbol "MCZ.A."
The officer responsible for issuance of this press release is Myles M.
McGovern, President and Chief Executive Officer.
For investor information, please contact:
MC2 Learning Systems Inc.
Natasha Sorobey - Corporate Secretary
500, 505 - 8th Ave. SW
Calgary, Alberta T2P 1G2
(toll-free) 888.448.4424
(email) natasha@mc2learning.com
For media information, please contact:
Verrecchia Group Inc.
Cindy Porter - Account Executive
(tel) 613.225.4149
(email) cindy@vergroup.com
Investor Information Online:
MC2's Annual Report, Quarterly Reports, Press Releases and other relevant
information are available online at: www.mc2learning.com |
