HUGE NEWS !
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: INTERPROVINCIAL SATELLITE SERVICES LTD.
ASE SYMBOL: ISS
APRIL 9, 1999
INTERSAT - U.S. Capital Market Engagement
CALGARY, ALBERTA--Interprovincial Satellite Services Ltd.
("INTERSAT"), and its wholly owned subsidiary Interfax
Communications Ltd., are pleased to announce that INTERSAT has
engaged a prominent U.S. investment bank (the "Agent") to place on
a 'best efforts' basis up to U.S.$ 15 million of common shares
and/or other equity or equity linked securities of INTERSAT to
institutional accredited investors on terms acceptable to
INTERSAT. Upon completion of the financing, INTERSAT intends to
apply for listing of the shares on NASDAQ, subject to meeting all
applicable regulatory requirements. Proceeds of the offering will
be used for further development and commercialization of
INTERSAT's products and services as well as the penetration of the
markets therefor.
Pricing of the securities will be established by negotiation
between INTERSAT and the investor(s), and will be based upon the
market for INTERSAT common shares at or about the time of closing
of the transaction, subject to meeting applicable regulatory
requirements.
The securities will not have been registered under the United
States Securities Act of 1933 and may not be offered or sold in
the United States absent such registration or an applicable
exemption from registration requirements.
INTERSAT, together with its wholly owned subsidiary Interfax
Communications Ltd., is a leading developer and value-added
provider, through its offices in Calgary, Amsterdam and San
Francisco, of global fax and data network services to industry,
using wireless and internet as communications media.
This release is for information purposes only and does not
constitute and should not be construed in any way as an offer to
sell or a solicitation of an offer to purchase any of the
securities under the private placement described herein.
Information provided herein contains "forward-looking"
information, as that term is defined by the United States Private
Securities Litigation Reform Act of 1995 (the "Act") with the
intention of obtaining the "safe harbor" of the Act. The Company
cautions investors that any forward-looking statements made by the
Company are not guarantees of future performance and that actual
results may differ materially from those in the forward-looking
statements. |
