Triant Closes $15 Million Special Warrant Financing; Underwriters Exercise Over-allotment Option
NANAIMO, BC, June 28 /CNW/ - Triant Technologies Inc. (CDNX:TNT - news; OTCBB:TNTTF - news) is pleased to announce that it has closed the $15 million special warrant financing announced on June 15, 2000. This financing was underwritten by Sprott Securities Limited, as lead underwriter, and Taurus Capital Markets Ltd. (the ``Underwriters'').
A total of 9,375,000 special warrants (``Special Warrants'') of the Company, including exercise by the Underwriters of an over-allotment option for 3,125,000 Special Warrants, have been issued at a price of $1.60 per Special Warrant for gross proceeds of $15,000,000. Each Special Warrant will be convertible, for no additional consideration, into one common share of the Company.
The net proceeds of the financing will be used for general corporate purposes, including the expansion of opportunities in the semiconductor industry and the development of new vertical markets for the Company's core products and technology.
Triant Technologies Inc. is a leader in semiconductor equipment health monitoring and advanced fault detection (EHM&AFD) solutions. Triant's principal product, ModelWare/RT(TM), is an innovative software solution designed specifically for semiconductor manufacturers to detect and identify process and equipment faults in real-time and off-line. |
