Corel Announces Exercise Of Right To Purchase Additional Shares By Canaccord Capital Corporation
CCN Disclosure - June 02, 2000 19:20
OTTAWA, CANADA--Corel Corporation (NASDAQ: CORL, TSE: COR) today announced that its "bought deal" agreement with Canaccord Capital Corporation has now been fixed at Cdn $30 million, at an offering price of Cdn $4.11 per share, resulting in a total of 7,299,270 common shares to be issued.
The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals. Corel filed a preliminaryprospectus to qualify the common shares on May 29, 2000. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be sold or offered for sale in the United States or otherwise distributed in the United States, except in reliance on available registration exemptions.
In the event a final prospectus is not filed within the 10 business days following the preliminary filing, a half warrant will be issued to the purchasers of the common shares for each common share purchased, each whole warrant entitling the purchaserto acquire an additional common share at the price of Cdn $4.56 within a 12-month period.
Corel Corporation
Corel Corporation is an internationally recognized developer of award-winning business productivity, graphics and operating systemsolutions on the Windows(R), Linux(R), UNIX(R), Macintosh(R) and Java(TM) platforms. Corel also develops market-leading, Web-based solutions including applications, contents, e-commerce and online services. For access to these services and more information go to or . Corel is headquartered in Ottawa, Canada. Corel's common stock trades on the NASDAQ Stock Market(SM) under the symbol CORL and on the Toronto Stock Exchange under the symbol COR.
This press release does not constitute an offer of securities for sale in the United States. Any public offering of securities to bemade in the United States will be made by means of a prospectus that will contain financial statements and information about Coreland management and that may be obtained from Corel.
This press release contains statements that are forward looking asthat term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to Corel's most recent reports filed with the Securities and Exchange Commission.
Corel and the Go further logo are trademarks or registered trademarks of Corel Corporation or Corel Corporation Limited. Linux is a registered trademark of Linus Torvalds. All other products, fonts, company names and logos are trademarks or registered trademarks of their respective owners.
FOR FURTHER INFORMATION PLEASE CONTACT:
Corel Press Contact:
Catherine Hughes
(613) 728-0826 ext. 1659 |
