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Technology Stocks : NHC COMMUNICATIONS (TSE:NHC) acquiring THE FIBER COMPANY -- Ignore unavailable to you. Want to Upgrade?

To: Lalit Jain who wrote (755)	7/26/2001 5:59:21 PM
From: Lalit Jain	Read Replies (1) \| Respond to of 856

NHC Communications Inc. Arranges Staged Financing For Up To $18 Million (CDN) NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES MONTREAL, PQ, July 26 /CNW/ - NHC Communications Inc. (TSE: NHC), a leading provider of carrier class test access and deployment solutions for the copper-based telecommunications and Internet access markets, announced today that it has filed a preliminary short form prospectus in each of the provinces of Québec and Ontario qualifying a distribution of rights to subscribe for common shares of NHC under an equity line instrument that allows NHC, at its option, to raise up to $18 million (CDN). The rights will be offered pursuant to a subscription agreement to be entered into between NHC and The Roseworth Group Ltd. The Roseworth Group Ltd. is a corporation actively engaged in the business of investing in publicly traded equity securities and has historically made investments in technology and biotechnology companies for its own account. NHC intends to use the net proceeds of this offering for working capital and corporate development purposes. NHC will have the discretion to draw down under this instrument from time to time, over a period of 30 months. The common shares will be priced at the time of each draw down based on the volume weighted average price of NHC's common shares on The Toronto Stock Exchange on each day during a draw down period. The number of common shares issuable pursuant to each draw down will depend on the price per share established during each such draw down period. The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals and to the execution of definitive documentation. The rights and the common shares issuable upon exercise of the rights have not been and will not be registered under "the United States Securities Act of 1933", as amended, and may not be sold or offered for sale in the United States or otherwise distributed in the United States, except in reliance on available registration exemptions. ABOUT NHC COMMUNICATIONS INC.: With offices in Montreal, Québec, Paris, France, and Manassas, Virginia, NHC is an international leader in the design and manufacture of innovative remotely controlled physical layer cross-connect solutions for established and next generation voice/data networks. With a unique range of technologies developed from years of experience, NHC now is at the heart of today's corporate enterprise service market and the telecommunications industry. NHC may be contacted through its web site: www.nhc.com %SEDAR: 00001989EB For further information: Sylvain Abitbol, President and CEO, NHC Communications Inc., Telephone: 1-800-361-1965, Fax: 514-735-8057, E-mail: s.abitbol@nhc.com; or Sylvain Brossard, VP Finance and Operations, NHC Communications Inc., Telephone: 1-800-361-1965, Fax: 514-735-8057, E-mail: s.brossard@nhc.com