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Technology Stocks : SFLK -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (1514)	11/4/1999 10:45:00 AM
From: Francois Goelo	Read Replies (12) \| Respond to of 1591

EXCELLENT NEWS: Softlink Issues Clarification on SB-2 Filing Announcement SANTA CLARA, Calif,, Nov 4, 1999 (BUSINESS WIRE) -- Softlink, Inc. (OTC BB: SFLK), the leader in multimedia email software, clarified its announcement made yesterday about its Form SB-2 filing with the Securities and Exchange Commission (SEC) to register 4,020,000 shares of the company's common stock. The shares registered under the SB-2 filing pertain to a $3 million private equity financing announced by the company on Sept. 8, 1999, which is subject to numerous terms and conditions. The financing was for 7 percent convertible preferred shares with a three-year maturity. Under the terms of the financing, investors receive 80,000 common stock purchase warrants for each $1 million raised, each warrant with a five-year term and an exercise price equal to 120 percent of the closing price. The closing price for the financing was $2.43, which was the average closing bid price for Softlink common stock for the 10 trading days immediately preceding the closing date. Among other terms, investors are not allowed to convert their convertible preferred shares into common stock for the first 120 days following the issuance date. After that date, there is a schedule of what percentage of market price the conversion can occur at depending upon the date of conversion. In addition, if an investor submits a conversion notice at a conversion price below $1.75 per share, Softlink can decide to either (1) redeem the preferred shares at 11.5 percent of par plus accrued interest or (2) convert the preferred to the appropriate amount of common stock. Further, the terms of the financing place limits on the ability of an investor to effect conversion if such conversion would give the investor ownership of more than 4.99 percent of the company's common stock. Interested parties are advised to refer to the company's SB-2 filing, made on Nov. 2, for additional details. About Softlink, Inc. Founded in 1996 and based in Santa Clara, CA, Softlink, Inc. (OTC BB: SFLK), is an innovator in multimedia-based Internet communications. Using advanced compression and composition technology, Softlink's eMail inChorus and eMail VOICELink products revolutionize conventional text-based email with voice, graphics, pictures, animation and live annotation. For more information, visit the company's web site at inchorus.com. Information contained in this press release contains "forward-looking statements," which can be identified by the use of forward-looking terminology such as "believes", "expects", "may" "should", or "anticipates" or the negatives thereof, or implying that the future results covered by the forward-looking statements will be achieved. Various risk factors could cause actual results to vary materially from the future results covered in such forward-looking statements. Such statements are subject to other risks and uncertainties. Note to Editors: eMail inChorus and eMail VOICELink are trademarks of Softlink, Inc. All other trademarks are the property of their respective owners and are acknowledged. Copyright (C) 1999 Business Wire. All rights reserved. Distributed via COMTEX. -0- CONTACT: Softlink, Inc., Santa Clara Lauren deVries, 408/496-6668 or Porter, LeVay & Rose, Inc. Lori Parks, VP Elisa Keys, VP-Media Relations Jonathan Gordon, Investor Relations 212/564-4700