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Gold/Mining/Energy : Infowave Wireless Messaging IW:TSE -- Ignore unavailable to you. Want to Upgrade?

To: blue_chip who wrote (810)	7/9/1999 10:01:00 AM
From: blue_chip	Respond to of 1690

INFOWAVE CLOSES FINAL TRANCHE OF $7.2 MILLION FINANCING Burnaby, British Columbia, July 8, 1999 - Infowave Software, Inc. (VSE: IWM) today announced that it has closed the second and final tranche of its special warrant private placement financing announced on June 18, 1999. The Company has placed an additional 809,647 special warrants at a price of $3.25 per special warrant, for gross proceeds of $2,631,352.75. In total, the Company has placed 2,224,647 special warrants for total gross proceeds of $7,230,102.75. The private placement was completed through Canaccord Capital Corp., Yorkton Securities Inc., Sprott Securities Limited and Taurus Capital Markets Ltd. An aggregate of $3,994,122.02 of the gross proceeds has been released to the Company. The balance of the proceeds was placed in escrow with Montreal Trust Company of Canada and will be released to the Company upon the issuance of receipts for a final prospectus qualifying for distribution the common shares and purchase warrants to be issued upon exercise of the special warrants. Infowave will use its reasonable efforts to obtain a receipt for the final prospectus within 90 days. About Infowave Infowave is a world-class software developer. The company was founded in 1984 and is headquartered in Vancouver, Canada. Infowave's Imaging Division builds award-winning printing solutions. Infowave's PowerPrint® and StyleScript® software kits provide Apple® Macintosh® users with improved print quality and access to more than 1,600 printers. Infowave's Wireless Division builds mobile business solutions that use the power of wireless communications to extend the reach of enterprise computing. Infowave for Exchange and Infowave for the Net are the most advanced and secure wireless solutions for connecting mobile workers to key corporate information and applications. Contact Information Corporate: Infowave Software, Inc. Richard Mockett ir@infowave.com 800-463-6928 Investor Relations: The Investor Relations Group Steve Hanson irg@invrel.com 800-444-9214 © 1999 Infowave Software, Inc.- Infowave, the Infowave logo, PowerPrint and StyleScript are trademarks of Infowave Software, Inc. All other trademarks are the property of their respective owners. Some of the above trademarks may be registered in certain jurisdictions. This news release may contain certain forward-looking statements that involve risks and uncertainties such as competitive factors, technological developments and market demand. Actual results could differ materially from the Company's expectations. The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.