To: Buckey who wrote (256 ) 4/20/1999 8:49:00 PM From: LABMAN Read Replies (1) | Respond to of 394
SOJ RAISES 10 MILLION...PARTY ON Home - Yahoo! - Help Yahoo! Visa - intro APR of 3.9%, no annual fee, great rewards. [ Business | US Market | By Industry | IPO | AP | S&P | International | PRNews | BizWire ] Tuesday April 20, 5:55 pm Eastern Time Company Press Release Storage One Raises $10,000,000 TORONTO, ONTARIO--Storage One Inc. (''Storage'') announced today that Yorkton Securities Inc. (''Yorkton'') has agreed to act as agent of Storage in connection with a private placement of up to 10,000,000 special units of Storage (the ''Special Units'') at a price of $1.00 per Special Unit for gross proceeds of $10,000,000. Subject to adjustment in certain events, each Special Unit will entitle the holder to acquire, at no additional cost, one Common Share of Storage and one-half of one Common Share Purchase Warrant of Storage. Each whole Purchase Warrant shall entitle the holder to purchase one additional Common Share of Storage at an exercise price of $1.25 per share for a period of two (2) years from the closing date. Storage intends to utilize $5.5 million of the additional capital raised pursuant to this private placement to finance the previously announced acquisition of Generation-Net Services Inc. and the balance to fund additional e-commerce business opportunities. The private placement of Special Units is expected to close on or about April 29, 1999. The completion of this private placement is subject to regulatory approval and final board of directors approval, Storage is required to file a formal application with The Alberta Stock Exchange within 14 calendar days of this press release. Contact: Storage One Inc. Mr. John A. McMahon Chairman (416) 864-3545 More Quotes and News: Storage One Inc (Alberta:SOJ_t.AL - news; Alberta:SOJ.AL - news) Related News Categories: banking Help Copyright © 1999 Canadian Corporate News. All rights reserved. All news releases provided by Canadian Corporate News are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving ina public database, redistributing via a computer network or in a printed form. See our Important Disclaimers and Legal Information. Questions or Comments? LM