News - wireless, U.S. expansion, security, Linux ...
Ezenet Corporation announces $18 million equity financing with Octagon Capital Corporation
www.ezenet.com
TRADING FLOAT: 2 million shares ASE Symbol - EZE
ISSUED SHARES: 7.46 million shares CUSIP No. 655416 10 5
TORONTO, March 1 /CNW/ - Ezenet Corp. (EZE - CDNX) announced that it has
entered into an agency agreement with Octagon Capital Corporation and Salman
Partners Inc. to complete a private placement offering of $18 million in
Special Warrants of Ezenet. The Special Warrants will be priced at $11.25 per
Special Warrant. Closing of the Offering is expected to occur on or about
March 30, 2000.
Each Special Warrant will entitle the holder to acquire one unit ("Unit")
comprising one common share of the Corporation ("Common Share") and one-half
of one Common Share purchase warrant ("Warrant"). Each whole Common Share
purchase Warrant will be exercisable at a price of $12.00 for fourteen months
following the Qualification Date. This offering is subject to regulatory
approval.
The proceeds of this Offering will be used to develop front-end wireless
solutions for banks and financial service companies that complement the
Company's existing back-end infrastructure, for development of enhanced
security software, for marketing and sales force expansion into the United
States; and to develop Linux financial applications.
Ezenet is a Toronto-based information technology company providing full
service technology and software solutions for the financial and banking
industry including online software, network services, full internet
capabilities and enhanced security. Ezenet's technology and software solutions
are currently deployed in major financial institutions across Canada. Ezenet
has many Canadian Financial Institutions as clients including four of Canada's
six largest banks and several of Canada's Trust and Insurance companies.
Ezenet's software expertise also allowed for the development of InstaBase, a
unique, powerful, yet simple Internet software program, which is currently in
distribution worldwide. For further information visit the Company's website at
ezenet.com.
This press release is not intended for dissemination into the United
States.
The Canadian Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information: contact: Terry Rogers, CFO, Ezenet Corp.,
Phone: (416) 482-3037, Fax (416) 482-0707, E-Mail - terry@ezenet.com,
Internet - www.ezenet.com; For Investor Relations information contact: Gary
Perkins, Phone: (905) 889-1711, Toll Free 1-800-225-2744, Fax: (905) 889-2511,
E-Mail - investorrelations@ezenet.com |
