I have only copied this here cause it gives a pretty good description of how TK describes itself in the market place. It is interesting to note that this is the second company that has cut deals with TK with better financing arrangements. (FLNK was the other).
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Jaws Technologies Inc. Modifies and Expands Debenture Agreement with
Thomson Kernaghan
PR Newswire - May 03, 1999 11:54
CALGARY, May 3 /CNW-PRN/ - JAWS Technologies Inc. (NASD-OTC BB:
''JAWZ''), a provider of the best in information security technologies
and practices, has modified the terms and expanded the size of its
credit facility with Thomson Kernaghan & Co. Ltd. of Toronto, Canada,
enabling JAWS Technologies to expand its suite of product and service
offerings.
''JAWS has secured a substantial financial commitment from Thomson
Kernaghan & Co.,'' states Robert Kubbernus, CEO, JAWS Technologies Inc.
''With Thomson Kernaghan, we have moved our company to the next level in
both financial and operational terms. Specifically, Thomson Kernaghan
has agreed to provide us with a $5 million credit facility with much
improved terms and conditions including: first, a fixed conversion
price; second, a finite amount of potential dilution to shareholders
upon conversion of the debentures to equity; and third, an increase in
the size of the facility to assist us in meeting our aggressive growth
plans. We are pleased with these modified terms and with Thomson
Kernaghan's continued support, we are confident of achieving our growth
objectives this year''.
''We have developed a solid understanding of the company's products and
services. We are extremely excited about JAWS' business potential in
what has fast become an incredibly dynamic market,'' states Robert
Wilson, Executive Vice President Capital Markets at Thomson Kernaghan.
''The changes to our debenture agreement with JAWS Technologies reflects
our strong belief in the company and the direction in which management
is taking the business. The management team has demonstrated to us that
the company is building the appropriate infrastructure, technical
expertise, and marketing and sales capabilities to deliver its winning
combination of security products and services to the marketplace. Robert
(Kubbernus) and his team have built a solid foundation to their business
and we look forward to seeing them implement their plan in the months
ahead''.
About Thomson Kernaghan
Thomson Kernaghan & Co. Ltd. was originally established in Toronto,
Canada, in 1949, when E.B. Kernaghan, F.C. Wooley and M.A. Thomson
merged with Averdon Pardoc & Co., a firm that had held a seat on the
Toronto Stock Exchange since 1912. Thomson Kernaghan is one of the
oldest privately-owned investment dealers in Canada, providing a wide
range of brokerage services to its corporate, institutional and retail
clients. For more information about Thomson Kernaghan's investment
banking services, contact Robert Wilson at (416) 860-8800 or toll free
at (800) 216-4398.
About JAWS Technologies
JAWS Technologies, Inc. (NASD-OTC BB: ''JAWZ'') is dedicated to the
development and integration of information risk management strategies
for secure business practices on a global scale. JAWS Technologies
offers an extensive security consulting practice that addresses explicit
business requirements. The JAWS IT Security Practice, performed by a
team of high caliber security experts, encompasses a robust series of IT
audit routines. JAWS Technologies is at the forefront of the security
industry with uncompromised security technologies. The sophistication of
proprietary security technology solutions coupled with leading edge
packaged data encryption software products provides JAWS clients fast,
strong and easy-to-use security management tools. For more information,
visit the company's web site at jawstech.com. Forward all
investment inquiries to invrel(at)jawstech.com or call 1-888-301-5297.
Forward-looking statements and comments in this press release are made
pursuant to safe harbor provisions of the Securities Exchange Act of
1934. Such statements relating to, among other things, the prospects for
the companies to complete the transaction and enhance operating results,
are necessarily subject to risks and uncertainties, some of which are
significant in scope and nature. These risks may be further discussed in
periodic reports and registration statements to be filed by the Company
from time to time with the Securities and Exchange Commission in the
future.
SOURCE JAWS Technologies Inc.
/CONTACT: Robert Kubbernus, CEO, JAWS Technologies; Barrie Einarson,
Director Investor Relations, 1-888-301-5297/
(JAWZ) |
