News Alert from Canadian Market News from Market News Publishing via Quote.com
Topic: (ASE:TVL) TRI Vision International Ltd.,
Quote.com News Item #5802400
Headline: TRI-VISION INTERNATIONAL LTD - Signs Underwriting Agreement For
Financing [408]
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Najmul Siddiqui, President and CEO of Tri-Vision, is pleased to
announce that the company has entered into an underwriting agreement with
CIBC Wood Gundy Securities Inc., Midland Walwyn Capital Inc. and Yorkton
Securities Inc. for the sale of 4.8 million units to raise gross proceeds
of $12 million. In addition, the underwriters will receive an
over-allotment option to acquire up to an additional 720,000 units for a
period of 30 days from the closing of the offering.
The units will be offered by prospectus in each of the provinces of
Canada at a price of $2.50 per unit, each unit consisting of one common
share and one common share purchase warrant. Each warrant will entitle the
holder to acquire one additional common share of Tri-Vision at a price of
$3.00 for a period of 180 days from the closing of the offering.
Subject to obtaining receipts for a final prospectus from provincial
securities regulatory authorities, the offering is expected to be completed
on April 2, 1998. Proceeds of the offering will be used principally to
finance the production, marketing and sale of the company's v-chip
technology products.
Tri-Vision Electronics Inc., a leading supplier of high technology
products to the global cable television and multimedia industries, has the
exclusive worldwide rights to the V-Chip, invented by award-winning
engineer Tim Collings.
Tri-Vision holds the exclusive worldwide rights to the v-chip
technology invented by engineer Tim Collings, P. Eng. Parent Company,
Tri-Vision International Ltd./Ltee. trades on The Alberta Stock Exchange,
symbol TVL.
TEL: [888] 298-8551 Century Communications Corporation
E-mail: tri-vision@tri-vision.ca
INET: tri-vision.ca
TEL: (416) 298-8551 Tri-Vision International Ltd./Ltee.
Najmul H. Siddiqui, Chairman, President & CEO
(c) 1998 Market News Publishing Inc. All rights reserved.
Tel:(604) 689-1101 Fax:(604) 689-1106
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