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Gold/Mining/Energy : SmartSales Inc (SA-Alberta) -- Ignore unavailable to you. Want to Upgrade?

To: bcjt who wrote (25)	3/22/2000 10:42:00 PM
From: bcjt	Respond to of 51

SMARTSALES ANNOUNCES CONVERSION OF SECURED CONVERTIBLE BONDS AND EXERCISE OF WARRANTS -------------------------------------------------------------------------------- Toronto, March 22, 2000 ð SmartSales Inc (CDNX:SA) announced today that secured convertible bonds issued by the Company in November 1997 to Nigel Stokes and Roman Corporation Limited had been converted into 1,973,645 common shares. The conversion of the bonds resulted in the issue of 1,125,394 shares to Nigel Stokes, and 848,251 shares to Roman Corporation Limited. Mr. Stokes is Chairman and a director of SmartSales and an officer and director of Roman Corporation Limited is also a director of SmartSales. The bonds had a total face value at conversion of $549,776 plus accrued interest of $141,000. Mr. Stokesû bond had a face value of $313,488 plus accrued interest of $80,400 and the Roman Corporation bond had a face value of $236,288 plus accrued interest of $60,600. The conversion rate was $0.35 per share. Additionally the Company announced that (i) 490,819 common share purchase warrants issued in itûs July 1998 financing were exercised at an exercise price of $0.24 per warrant for aggregate proceeds $117,796.56 to the Company, and (ii) 51,724 common share purchase warrants issued in itûs March 1999 financing were exercised at an exercise price of $.029 per warrant for aggregate proceeds of $14,999.96 to the Company. "The conversion of the bonds represents a continued strengthening of our balance sheet", said Don Parker, President and CEO. "This conversion, together with the $450,000 proceeds from the exercise of warrants last week by Mr. Stokes along with the $132,796.52 from the current exercise of warrants, helps position the Company appropriately for future growth." About SmartSales Inc. SmartSales develops and distributes leading-edge sales cycle, sales tracking and sales management software that is practical, easy-to-use and economical to buy and implement. SmartSales products are specifically designed to help increase revenue generation for users in the selling channel by enhancing the efficiency and effectiveness of the sales cycle for both sales representatives and corporate managers. SmartSales products effectively combine attributes of both sales force automation software and customer relationship management software in one easy-to-use opportunity management format. Limited free trial of OutSmart: outsmartsoftware.com For more information call: 1-888-257-5559 smartsales.com E-mail: ir@outsmartsoftware.com bcjt