FOR: COMPRESSION & ENCRYPTION TECHNOLOGIES INC.
CDNX SYMBOL: CYH
APRIL 25, 2000
Compression Announces Proposed Private Placement
Re-pricing
EDMONTON, ALBERTA--Compression & Encryption Technologies Inc.
(CYH) wishes to announce that the proposed non-brokered private
placement previously announced on March 6th, 2000, for the
issuance of 750,000 units (the "Units") at a price of $1.50 per
Unit has been re-priced at a price of $1.00 per Unit. The
Corporation is re-pricing the Units to address potential private
placement investor concerns associated with current market
conditions. Each Unit is to consist of one (1) common share and
one warrant (the "Warrant"), two Warrants entitle the holder to
purchase a common share at a price of $2.00 per common share for
a period of one year.
The company shall use the proceeds of this private placement as
working capital to continue international market development,
continue the product development to add new feature sets and
products to the company's product offering and to assist the
company in the pursuit of new strategic business opportunities.
The company also reports that at the March 28, 2000 Annual General
Meeting that the shareholders have re-elected Mr. Greg Burghardt,
Mr. Don Logan, and Mr. Don Makowichuk as members of the board of
the directors. Mr. Don Logan is also President of the company.
The company has granted a total of 300,000 director's options to
the current directors at with an option price of $.87 per share
based on the April 24, 2000 close.
The completion of the proposed private placement and the
director's options are subject to regulatory approval.
The family of CYH data link optimization products are designed to
expand the usable bandwidth of Wide Area Network (WAN) services.
These products deliver up to four times the throughput normally
available on existing data links. Data communications carriers
provide these WAN services on a monthly lease basis. The value of
the extra bandwidth obtained from the use of the hardware is
dependent upon the costs of the bandwidth. With demand for
bandwidth globally growing faster than the infrastructure, an
opportunity is created for effective bandwidth optimization
technologies.
CYH trades on the Canadian Venture Exchange (CDNX) under the
symbol CYH. Corporate and product information about CYH is
available on the World Wide Web at compression.okko.com
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FOR FURTHER INFORMATION PLEASE CONTACT:
Compression & Encryption Technologies Inc.
Randy Pointkoski
(780) 469-3898
(780) 469-4317 (FAX)
E-mail: rpoint@okko.com
Website: www.compression.okko.com
The Canadian Venture Exchange has neither approved nor disapproved
the information contained herein.
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