COGNICASE INC. TO ISSUE 1,500,000 MILLION COMMON SHARES
MONTREAL, QUEBEC--
COGNICASE Inc. ("COGNICASE" or "the Corporation") is pleased to
announce that it has entered into a "bought deal" financing
arrangement with a syndicate of underwriters led by CIBC Wood
Gundy Securities Inc. COGNICASE will issue 1,500,000 common
shares from treasury at CDN$35.00 per share for an aggregate
consideration of CDN$52.5 million. Subject to regulatory
approvals, the closing is expected to take place on or before
February 9, 1999.
The net proceeds from the public offering will be for working
capital and general corporate purposes.
The common shares have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S.
persons except in certain transactions exempt from the
registration requirements of the U.S. Securities Act.
COGNICASE's common shares are listed on The Toronto Stock
Exchange and NASDAQ under the symbols "COG" and "COGIF",
respectively.
For further information please contact: Marc Lamy, COGNICASE
Inc., 1080 Beaver Hall Hill, Suite 2000, Montreal, Quebec, H2Z
1S8, Telephone: (514) 866-6161, Facsimile: (514) 866-6260,
E-mail: lamm@cognicase.ca.
|
