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Gold/Mining/Energy : GI/TSE GDI Global Data Inc. (Formerly TC/TSE) -- Ignore unavailable to you. Want to Upgrade?

To: gianelda who wrote (16)	1/28/2000 3:07:00 PM
From: Merlin1968	Respond to of 23

Attention Business Editors: Global Data Announces $5 million Agency Agreement with Octagon Capital Corporation - Proceeds to be used to fund acquisition of StarComm Products, Inc., accelerate product development, and for working capital purposes - Toronto Stock Exchange Symbol: GI TORONTO, Jan. 28 /CNW/ - GDI Global Data Inc. ( "Global Data") (TSE:GI) announced today that it has entered into an agency agreement with Octagon Capital Corporation relating to an offering of up to $5 million in Special Warrants of Global Data. Under the terms of the agreement, each Special Warrant will entitle the holder to acquire One Common Share at a price of $1.00. Completion of the offering is expected to close on or before February 24, 2000. This financing agreement is subject to regulatory approval. The proceeds from this agreement will be used to fund the acquisition of StarComm Products, Inc., accelerate product development and provide additional working capital to implement Global Data's business plan. Global Data, based in Toronto, Ontario and Amherst, New Hampshire, offers wireless data collection and communications products and services through its two business units: Global Data Wireless and Granite Communications. Global Data Wireless designs, develops, markets and supports products and services for automated meter reading and remote telemetry applications for the electric power and gas industries. Granite Communications designs, develops, markets and supports application-specific hand-held data collection computing products that integrate wireless local area networking and bar code data capture technologies. Global Data's common shares trade on The Toronto Stock Exchange (TSE: GI). Global Data can be reached through the Internet at globaldata.com.