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Technology Stocks : Alphanet Telecom, WOW !
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To: Sushi who wrote (94)8/4/1998 9:42:00 AM
From: Sushi  Read Replies (2) of 117
 
AlphaNet Telecom Inc Directors approve $24.6-million financing

Tuesday Aug 4 1998

Mr. Brian Wilson reports

The board of directors has authorized an equity financing of approximately $24.6-million by the
issuance of up to 1,540,000 special warrants at $16.00 per special warrant. Each warrant will be
exercisable for one share of AlphaNet Telecom to be qualified under a planned prospectus filing by the
company in all provinces of Canada. The company has appointed HSBC Securities as the exclusive
agent for the issuance of the special warrants which will be offered on a private placement basis in
Canada and the United States.
The proceeds from this issue will be used to further expand the company's international
telecommunications network.
Since launching commercial service in November 1997, AlphaNet Telecom has experienced a steady
build-up in international long distance traffic. On July 31, 1998, a new traffic milestone of 471,000
billed minutes for the day was achieved. This represented a more than fifty-fold increase in traffic
volume from the first quarter of 1998 and an annualized run rate of approximately 170 million minutes.
Forty carrier customers are currently under contract with the company.
AlphaNet Telecom has points of presence in 12 countries worldwide and is in the process of adding an
additional four countries that are anticipated to be operational by the end of August 1998.

AlphaNet Telecom (TSE:FAX)
Shares issued 8,363,780
1998-07-31 close $16.5
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