X-From_: staff@quote.com Wed Oct 30 21:46 EST 1996
From: staff@quote.com
Date: Wed, 30 Oct 1996 18:42:12 -0800 (PST)
To: quotecom-users@quote.com
Subject: TRI VISION INTERNATIONAL LTD - Completes Issue and Sale of 3,251,000 Special Warrants
Content-Length: 1682
News Alert from Market News Publishing via Quote.com
Topic: TRI Vision International Ltd.
Quote.com News Item #1428724
Headline: TRI VISION INTERNATIONAL LTD - Completes Issue and Sale of 3,251,000
Special Warrants
======================================================================
Mr. Najmul H. Siddiqui, Chairman, President and Chief Executive
Officer of Tri-Vision announced that the Company has completed the issue
and sale of 3,251,000 Special Warrants for gross proceeds of approximately
$2.9 million. CIBC Wood Gundy Securities Inc. acted as underwriter in
connection with the offering. Each Special Warrant is exercisable for one
Common Share of Tri-Vision International. In the event that a final
prospectus qualifying the Common Shares issuable upon exercise of the
Special Warrants is not cleared with the applicable regulatory authorities
by May 30, 1997, each Special Warrant is exercisable for 1.1 Common
Shares.
Mr. Siddiqui announced that Tri-Vision International will be using the
proceeds to fund its 1996 capital expenditure program, working capital and
the advancement of its technologies, in particular, pre-production expenses
for its V-Chip Decoder.
This will include pre-production arrangements to commence
manufacturing of the world's first V-Chip Decoder, a device which allows
parents to determine the quality and content of TV programs viewed in the
home.
Tri-Vision holds exclusive Canadian rights to the V-Chip Decoder
technology. In addition, Tri-Vision is a leading supplier of high
technology products to the global cable television and multimedia
industries.
TEL: (888) 298-8551 Century Communications Corp. |
