here is some news to read, sorry if I am behind in the times, out of town all day, Jo,
Thursday April 2, 5:36 pm Eastern Time
Company Press Release
Xinex Closes Financing
VANCOUVER, British Columbia--(BUSINESS WIRE)--April 2, 1998-- XINEX (Alberta Stock
Exchange:XNX. - news; Xinex Networks Inc.) today announced that on March 27, 1998 the Company
closed its previously announced private placement. Under the terms of the financing, the company
completed the sale of 10,000,000 special warrants at a price of $0.14 each, for gross proceeds of
$1,400,000. Each special warrant will entitle the holder thereof to acquire, at no additional cost, one
common share of Xinex (the ''Common Shares'') and one share purchase warrant of Xinex (the
''Warrants''). Each Warrant shall entitle the holder to purchase one additional common share of Xinex at
an exercise price $0.18 for a period of two (2) years after the closing date.
Xinex Networks Inc. is an emerging provider of advanced communications solutions for the global
workplace. Xinex develops and delivers innovative, cost-effective technologies and products such as
integrated voice, data, and video communication networks. Xinex employs 95 people in development,
production, and sales in its offices in British Columbia, California, New Jersey, Florida, Texas and Illinois.
Xinex can be reached by visiting xinex.com on the World Wide Web, e-mailing
webmaster@xinex.com, or calling (604) 526-1585.
-0-
The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein
Contact:
Xinex Networks Inc.
Roy Leahy, 604/526-1585
or
Xinex Networks Inc.
Brian Ostroff, 514/485-4529 |
