Financing completed - "highly over-subscribed"
AimGlobal Technologies Completes the Issue of $32.775 million of common voting
shares
AMEX and TSE: AGT
TORONTO, March 27 /CNW/ - AimGlobal Technologies (TSE, AMEX: AGT) today
announced that it has completed the issue of 1,725,000 common voting shares of
the Company at $20.00 per share, as previously announced. This includes
225,000 shares issued at the offering price pursuant to the exercise in full
of the Underwriters' over-subscription allotment. The issuance of common
shares was highly over-subscribed. The net proceeds of the issue are
$32,775,000 after Underwriters' and other fees.
In light of several recent strategic customer-partnerships and many
ongoing significant corporate developments, the net proceeds of the issuance
will be used by the Company to support the continuing rapid-growth of the
Company's electronics manufacturing solutions and services (EMS) business.
Concurrently with the completion of the public offering and recent
appointments to the Company's Board of Directors, the Company today announced
that, subject to the necessary regulatory, shareholder and other approvals, it
is reserving up to 1,500,000 stock options for common shares of the Company,
exercisable at the current market price.
The Company's shares trade on The Toronto Stock Exchange and the American
Stock Exchange under the symbol ``AGT'. Neither the TSE, nor AMEX has
reviewed, nor accepts responsibility for the adequacy or accuracy of this
release. The public issuance of 1,725,000 shares have not been and will not
be registered under the U.S. Securities Act of 1933, as amended, and were not
offered in the U.S. or to U.S. persons without and exemption form
registration.
About Aimtronics Corporation
Aimtronics, a wholly owned subsidiary of AimGlobal Technologies (TSE,
AMEX: AGT) offers a complete range of Electronics Manufacturing Solutions and
is a leading technical provider of services in the Microelectronics industry.
Aimtronics' supply chain management solutions offer design assistance -
reducing time-to-market metrics, time-to-volume metrics, full product testing,
packaging, warranty service, and end-of-life support. Aimtronics'
Microelectronics Technology Centre provides proprietary thick film hybrid
design and assembly including Chip-on-Board, Multi-Chip Module, and Flip- Chip
technologies.
Through five facilities located across the country Aimtronics' serves the
high technology markets through out North America.
About AimGlobal Technologies Company
Founded 14 years ago, and through two operating subsidiaries, AIMGlobal
Technologies serves the Medical, Aerospace, Communications, Industrial,
Military, Emergency Services and Consumer markets. With operations in New
York State, Ontario and British Columbia, AIMGlobal Technologies is a
recognized technical innovator and a leading manufacturer of proprietary
microelectronic solutions.
Safe Harbor Statement
Certain information in this press release contains ``forward looking
statements' within the meaning of the Securities Exchange Act of 1934,
including those concerning the Company's future results and strategy. Actual
results could differ from those in the forward looking statements due to a
number of uncertainties, including, but not limited to, the demand for the
Company's products and services; the size, timing and recognition of revenue
from significant orders; increased competition, changes in Company strategy;
product life cycles; the impact of rapid technological advances, evolving
industry standards, changes in customer requirements, and fluctuations in
foreign exchange rates.
The Company's expense levels are based, in part, on its expectations as
to future revenue and a significant portion of the Company's expenses do not
vary with revenue. As a result, if revenue is below expectations, results of
operations are likely to be materially adversely effected.
For further information: AimGlobal Technologies Company Inc.: Lisa
Deguchi (604) 209-1760, E-Mail: ldeguchi@aimglobaltech.com; Visit
Aimtronics at www.aimtronics.com
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