NHC Communications Inc. Arranges Staged Financing For Up To $18 Million (CDN)
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
SERVICES
MONTREAL, PQ, July 26 /CNW/ - NHC Communications Inc. (TSE: NHC), a
leading provider of carrier class test access and deployment solutions for the
copper-based telecommunications and Internet access markets, announced today
that it has filed a preliminary short form prospectus in each of the provinces
of Québec and Ontario qualifying a distribution of rights to subscribe for
common shares of NHC under an equity line instrument that allows NHC, at its
option, to raise up to $18 million (CDN). The rights will be offered pursuant
to a subscription agreement to be entered into between NHC and The Roseworth
Group Ltd. The Roseworth Group Ltd. is a corporation actively engaged in the
business of investing in publicly traded equity securities and has
historically made investments in technology and biotechnology companies for
its own account.
NHC intends to use the net proceeds of this offering for working capital
and corporate development purposes.
NHC will have the discretion to draw down under this instrument from time
to time, over a period of 30 months. The common shares will be priced at the
time of each draw down based on the volume weighted average price of NHC's
common shares on The Toronto Stock Exchange on each day during a draw down
period. The number of common shares issuable pursuant to each draw down will
depend on the price per share established during each such draw down period.
The transaction is subject to the receipt of all necessary regulatory and
stock exchange approvals and to the execution of definitive documentation. The
rights and the common shares issuable upon exercise of the rights 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.
ABOUT NHC COMMUNICATIONS INC.:
With offices in Montreal, Québec, Paris, France, and Manassas, Virginia,
NHC is an international leader in the design and manufacture of innovative
remotely controlled physical layer cross-connect solutions for established and
next generation voice/data networks. With a unique range of technologies
developed from years of experience, NHC now is at the heart of today's
corporate enterprise service market and the telecommunications industry.
NHC may be contacted through its web site: www.nhc.com
%SEDAR: 00001989EB
For further information: Sylvain Abitbol, President and CEO, NHC
Communications Inc., Telephone: 1-800-361-1965, Fax: 514-735-8057, E-mail:
s.abitbol@nhc.com; or Sylvain Brossard, VP Finance and Operations, NHC
Communications Inc., Telephone: 1-800-361-1965, Fax: 514-735-8057, E-mail:
s.brossard@nhc.com |
