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Microcap & Penny Stocks : INTA - Intasys Corp.- Dynamic Growth -- Ignore unavailable to you. Want to Upgrade?

To: TraderXx who wrote (153)	1/4/1999 3:09:00 PM
From: DADEPFAN	Read Replies (1) \| Respond to of 378

Any comments on this? Dave D FULL TEXT-Intasys closes financing January 4, 1999 02:49 PM (Full text of press release from Canadian Corporate News) JANUARY 4, 1999 Intasys Completes Equity Financing TORONTO, ONTARIO--Stephen J. Roth, Chairman and Chief Executive Officer of Intasys Corporation (the "Company") (Nasdaq: INTAF), announced that, on December 30, 1998 the Company closed the private placement financing as announced on November 23, 1998. Under terms of this financing, eight foreign investors purchased an aggregate of 1.4 million units at $2.50 per unit, for a total of $3.5 million. Each unit consists of one share of common stock and one non-transferable warrant that entitles the holder to purchase one additional share of common stock at a price of $3.00 if exercised on or before November 23, 1999, or $3.25 if exercised after November 23, 1999 but prior to November 23, 2000. All figures are stated in U.S. Dollars. Upon the full exercise of these warrants within the first year, an additional sum of $4.2 million would accrue to the treasury, increasing to $4.55 million should the warrants be exercised in the second year. Mr. Roth commented: "The equity financing adds $3.5 million to our cash resources, resulting in the Company beginning 1999 with over $5.5 million cash in the treasury. This will further enable us to significantly build upon the successful implementation of our unique, state-of-the-art subscriber management, billing and customer care software systems." Philip Davis, President, stated: "The strengthened balance sheet affords Intasys the opportunity to reinforce and stabilize its commitment to the North American market, in addition to expanding marketing and sales efforts world-wide. This should further enable management to achieve its revenue and profitability goals for 1999 and beyond." About Intasys Intasys is a software company with a worldwide focus on subscriber management. Intasys has developed, and markets for sale and license, proprietary, Year-2000 compliant billing and customer care software for the telecommunications and utilities markets, including digital and analog cellular, fixed wire, long distance, cable, Internet, SMR and satellite service products. In addition, the Company provides consulting and development services which integrate its database management solutions and skills with Internet, telecommunications and utilities systems. These services offer Intasys clients a business solution enabling them to benefit from on-line Internet selling, customer care, billing and account management. Statements contained in this press release which are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission. Any and all statements made regarding Year 2000 are hereby designated by Intasys as "Year 2000 Readiness Disclosure" pursuant to the Year 2000 Information and Readiness Disclosure Act. FOR FURTHER INFORMATION PLEASE CONTACT: Intasys Corporation Philip Davis President (404) 888-9270 or Intasys Corporation Stephen J. Roth Chairman (905) 206-1255 REUTERS