SmartSales Announces Exercise of Warrants
TORONTO, ONTARIO--SmartSales Inc. (CDNX:SA) announced today that
Nigel Stokes, Chairman of the Board and a director of SmartSales,
completed a transaction to exercise one million warrants at an
exercise price of $.45 per share. The proceeds of the transaction,
$450,000, will be used by the Company for general corporate
purposes and specifically to fund two important initiatives. The
first initiative is the acceleration of market development
strategies for the Company's Outsmart suite of products. The
second initiative that can now be expedited and fully funded is
the final development of the Company's Outsmart product for the
wireless hand held device marketplace.
The proceeds from the exercise of the warrants will enable the
Company to complete the development, on an accelerated basis, and
the Company expects to have an Outsmart version for both wireless
and connectable hand held devices ready for sale by the end of
June 2000. At that time, the suite of Outsmart products will
consist of a single user version; a small and medium sized
enterprise version (the SME-Mail product); two separate large
enterprise versions offering differing levels of functionality and
complexity for users; and the hand held device version. The full
range of Outsmart products recognizes user needs and follows the
extension of Microsoft's Outlook through various platforms.
"I have strong confidence in the SmartSales Management team and
product vision," states Nigel Stokes. The ability of new Outsmart
suite of products to service a large market ranging from small and
medium enterprises to fortune 1000 is extremely exciting. The
product strategy will allow customers to deploy the Outsmart
product line on a full range of technology from hand held devices
to enterprise servers. "That's why I invested," added Mr. Stokes.
"The exercise of the warrants is a solid endorsement of the
Company and its prospects," said Don Parker, President and CEO.
"The most exciting part though, is our ability to now move forward
and quickly complete the final development phase of Outsmart for
the hand held marketplace. This will place Outsmart in an
incredibly strong and strategically sound competitive position to
meet the needs of many businesses seeking an effective,
easy-to-use, easy-to-install sales force automation tool" added
Mr. Parker.
About SmartSales Inc.
SmartSales develops and distributes leading-edge sales cycle,
sales tracking and sales management software that is practical,
easy-to-use and economical to buy and implement. SmartSales
products are specifically designed to help increase revenue
generation for users in the selling channel by enhancing the
efficiency and effectiveness of the sales cycle for both sales
representatives and corporate managers. SmartSales products
effectively combine attributes of both sales force automation
software and customer relationship management software in one
easy-to-use opportunity management format.
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