Extenway Completes Third Tranche of Private Placement
27 2월 2014 - 6:15AM
Marketwired
Extenway Completes Third Tranche of Private Placement
MONTREAL, QUEBEC--(Marketwired - Feb 26, 2014) - Extenway
Solutions Inc. ("Extenway") (TSX-VENTURE:EY) is pleased to announce
the closing, as of February 26, 2014 (the "Closing Date"), of a
third tranche private placement (the "Third Tranche") of
convertible debentures (the "Convertible Debentures") in the
aggregate principal amount of $1,710,000. The Third Tranche was
completed as part of a larger offering of common shares and
Convertible Debentures for combined aggregate gross proceeds of
$2,300,000 (the "Offering"), the first and second tranches of which
were respectively completed on September 11th and 17th, 2013.
The Convertible Debentures are unsecured, will mature on August
31, 2017, and bear an annual compounded interest rate of 12%. The
Convertible Debentures are convertible into common shares of
Extenway (the "Common Shares") at a conversion price of $0.13 if
the conversion is effected no later than at 5:00 pm on April 29,
2016, or $0.17 if the conversion is effected thereafter, subject to
customary adjustment provisions.
The proceeds of the Offering will be used for working capital
purposes. The private placement is subject to compliance with
applicable securities legislation and to the approval of the TSX
Venture Exchange.
Desjardins-Innovatech s.e.c. and the Caisse de dépôt et
placement du Québec, both insiders of Extenway, participated in the
Third Tranche by subscribing for Convertible Debentures in the
principal amounts of $1,000,000 and $500,000 respectively,
representing 58.48% and 29.24% of the total amount raised under the
Third Tranche or 43.48% and 21.74% of the total amount raised under
the Offering.
IRR Capital Inc. acted as finder for a portion of the financing
and received a commission of $31,300 and 100,000 share purchase
warrants of Extenway, with each share purchase warrant being
exercisable to acquire one Common Share at an exercise price of
$0.13 per Common Share if exercised no later than at 5:00 pm on
April 29, 2016 or at a price of $0.17 per Common Share if exercised
thereafter. The share purchase warrants will expire on August 31,
2017.
The Convertible Debentures and all underlying Common Shares
issued, or which may be issued, to purchasers under the Third
Tranche (the "Securities") are subject to a four-month plus one-day
hold period from the Closing Date, ending on July 27, 2014,
pursuant to securities legislation and the policies of the TSX
Venture Exchange. The Securities have not been nor will they be
registered under the United States Securities Act of 1933, as
amended, or state securities laws, and may not be offered or sold
in the United States or to an account for the benefit of U.S.
persons, absent such registration or an exemption from
registration.
About Extenway Solutions Inc.
Extenway is a supplier of client-focused solutions for the
healthcare industry. Services offered by Extenway include
interactive television, beside terminals for patients, internet,
entertainment, content integration, advertising, education and
integrated solutions. Extenway allows organizations to optimize
management and coordination of human interactions as well as
communications, information and coordination. For further
information, please visit www.extenway.com or follow us on Twitter
@Extenway.
Disclaimer - Safe Harbour Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements. These forward-looking statements relate
to the future financial conditions, results of operations or
business of Extenway. These statements may be current expectations
and estimates about the markets in which Extenway operates and
management's beliefs and assumptions regarding these markets. These
statements are subject to important risks and uncertainties which
are difficult to predict and assumptions which may prove to be
inaccurate. The results or events predicted in forward-looking
statements may differ materially from actual results or events.
Extenway disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise. In particular,
forward-looking statements do not reflect the potential impact of
any merger, acquisitions or other business combinations or
divestitures that may be announced or completed after such
statements are made.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
John McAllisterPresident and CEOExtenway Solutions
Inc.514-694-1916Marie-Helene d'EntremontZone franche514-371-5715,
ext. 204mhdentremont@zonefranche.ca
Extenway Solutions Inc. (TSXV:EY)
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