Strong demand - financing increased
February 3, 2000
ACD Systems International Inc. Corporate Update
VICTORIA, BRITISH COLUMBIA--ACD Systems International Inc. (the
"Corporation") is pleased to announce the increase of the size of
the offering of Special Warrants (the "Offering") which was
previously announced by press release dated February 2, 2000.
The increase of the size of the Offering by 375,000 Special
Warrants is due to strong market demand for the Offering and to
cover over-allotments.
The Corporation has engaged Octagon Capital Corporation and HSBC
Securities (Canada) Inc. to complete the Offering. The Offering
is now for a total of up to 1,875,000 Special Warrants at a price
of $12.00 per Special Warrant for a maximum aggregate amount of
$22,500,000. The specific terms of the Offering were originally
announced by press release dated February 2, 2000.
It is anticipated that the net proceeds of the Offering will be
used by the Corporation for marketing initiatives, to fund
research and development expenditures, to complete acquisitions
that add strategic products and to further OEM partnering
activities.
The closing of the Offering is subject to regulatory approval, and
the Corporation filing a formal application within 14 days of this
press release.
ACD Systems International Inc. (CDNX:ASA) designs, develops and
markets leading edge Digital Imaging and Network Communications
Technologies, including ACDSee and ACD Express, with over 15
million users of its software worldwide. The Corporation's website
is located at www.acdsystems.com.
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FOR FURTHER INFORMATION PLEASE CONTACT:
ACD Systems International Inc.
Martin Winstanley
Vice President - Corporate Affairs
(250) 382-5828
martin@acdsystems.com
acdsystems.com
THE CANADIAN VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED
OF THE CONTENTS OF THIS PRESS RELEASE. |
