SIDEWARE SYSTEMS INC. ANNOUNCES PRIVATE PLACEMENT
FOR IMMEDIATE RELEASE - JULY 13, 1998
Vancouver, B.C. - Sideware Systems Inc. (symbol: SYD on the VSE) is pleased to announce that it has arranged a non-brokered private placement for the issuance of 600,000 special warrants at a price of $0.28 per special warrant, subject to regulatory approval.
Each special warrant is convertible into one unit comprising one common share and one share purchase warrant. Each underlying warrant entitles the holder to purchase one additional common share of the Company, for a period of two years, at a price of $0.28 per share in the first year and $0.32 per share in the second year.
The Company will use its best efforts to file an Annual Information Form with the British Columbia Securities Commission, which will allow the Company to issue shares and warrants, upon conversion of the special warrants, with a four month hold period.
The proceeds in the sum of $168,000 will be used for general working
capital.
ON BEHALF OF THE BOARD
SIDEWARE SYSTEMS INC.
Grant Sutherland
Chairman
Investors are encouraged to direct shareholder questions and/or join an on-line discussion regarding Sideware System's performance at
www.techwestmgmt.com. Through this forum offered by TechWest Management Inc., anyone can register as a member and participate directly in web-based conversations with a Sideware Investor Relations Representative. Sideware Systems Inc., develops and markets software that exploits its patented concurrent technology. Sideware Systems Inc. is a publicly traded company on the Vancouver Stock Exchange trading under the symbol: SYD . For further information on Sideware's products or services, please visit the following web sites: www.sideware.com or www.hotnotions.com.
INVESTOR CONTACT: Jennifer Burke at jennifer@sideware.com 604-986-6121
ext.249
MEDIA CONTACT: Stacy Imyak at 76756.3477@compuserve.com, 847-291-1616
ext.224
THE VANCOUVER STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Sideware Systems Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Sideware Systems Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state income tax laws, and market competition factors.
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