To: Gerry Merz who wrote (675 ) 1/18/2000 8:55:00 PM From: Eric Weiner Read Replies (1) | Respond to of 704
Totally Hip Software announces private placement/stock options VANCOUVER, Jan. 18 /CNW/ - Totally Hip Software Inc. Canadian Venture Exchange: THW Totally Hip announces that it has agreed to a private placement of its securities which will consist of the sale of 882,353 units at a price equal to yesterday's closing price of the Company's shares less the allowable discount. Each unit consists of one common share and one non-transferable share purchase warrant entitling the holder to purchase one additional common share of the Company at $0.63 per share if exercised during the first year of the warrant, and at $0.73 per share if exercised during the second year of the warrant. Management and employees will be participating in the private placement. A finder's fee will be paid in shares on a portion of the private placement. The proceeds from the private placement will be used for general working capital purposes. Any securities to be issued will be subject to hold periods as required by regulatory authorities. The private placement is subject to acceptance for filing by the Canadian Venture Exchange. The Company will not be proceeding with its $0.30 private placement announced October 19, 1999. The Company announces that it has granted Incentive Stock Options on 1,428,500 shares of the Company's capital stock, exercisable up to five (5) years at a price of $0.51 per share, which price is not lower than the closing price of the Company's shares on the day prior to this announcement less the allowable discount. The options granted may not be exercised until regulatory approval has been obtained. Totally Hip Software's mission is to add interactivity to the Web. The company founded in 1995, is a developer and marketer of interactive Web development tools. These include the award-winning LiveStage, LiveStage Professional and WebPainter products that empower users to develop, produce and deliver the most engaging experience on the Web. The Company is traded on the Canadian Venture Exchange (Trading Symbol: THW). (c) 2000 Totally Hip Software Inc. All rights reserved. TOTALLY HIP SOFTWARE INC. Per:``Randall H. McCallum' ------------------------------------ Randall H. McCallum, CEO & President The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. %SEDAR: 00003922E -30- For further information: Randall H. McCallum (604) 685-6525, www.totallyhip.com, email: info@totallyhip.com To request a free copy of this organization's annual report, please go to www.newswire.ca and click on reports@cnw