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Gold/Mining/Energy : InfoInterActive Inc (IIA-ASE) -- Ignore unavailable to you. Want to Upgrade?

To: Don Johnstone who wrote (245)	6/8/1998 10:04:00 AM
From: rdww	Read Replies (1) \| Respond to of 1622

more $$ via a PP $2.5m financing InfoInterActive Inc IIA Shares issued 8,237,429 Jun 5 close $2.70 Mon 8 Jun 98 News Release Mr. Gary Oickle reports InfoInterActive proposes to raise $2,500,000 in net proceeds through the sale of 972,763 units of the company at $2.57 per unit on a private placement basis to private, non-arm's length investors. The purchase price was determined by negotiation between the company and the investors. Each unit consists of one share plus one half warrant. Each full warrant entitles the holder to purchase one share at $5.00 per share, expiring two years after issuance. Both the shares and the warrants are restricted from trading for one year from issuance. As part of this transaction, Cranston, Gaskin, O'Reilly and Vernon, a Toronto based investment counselor has agreed to arrange the purchase of IIA common shares for $2,500,000 from these private non-arms' length investors. The funds from this transaction will be used by IIA to launch new products now in development, and to continue its current marketing and rapid deployment of Internet Call Manager service through major telephone and Internet companies around the world. Internet Call Manager provides Internet users with notification of incoming telephone calls - including caller identification - while the phone line is tied up during Internet use. The service was launched in Canada by MT&T and in the United States by Cincinnati Bell Telephone. The company has also signed a letter of intent with a Regional Bell Operating Company (RBOC), one of the largest telephone companies in the United States, and is actively pursuing other similar partners. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com