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MONTREAL, Feb. 11 /CNW Telbec/ - Alphinat Inc. ("Alphinat") (TSX-V: NPA), a leader in innovative Software for the Smart Enterprise™, announces
that it has completed the closing of the third and final tranche of its
previously-announced private placement of units for a minimum gross
proceeds of $500,000 and a maximum gross proceeds of $1,000,000 at a
price of $0.10 per unit, each unit comprised of one common share and
one eighth of a common share purchase warrant. Each whole warrant
issued in connection with the third tranche entitles the holder to
purchase one additional common share at a price of $0.12 on or before
February 11, 2014. This final tranche brings the aggregate total up to
the maximum intended financing of $1,000,000 under this private
placement. The net proceeds from the private placement will be used to
fund the expansion of the sales team and for working capital purposes.
The units have been sold to "accredited investors" in the Province of
Québec on a prospectus-exempt basis.
The closing of this third tranche results in the issuance of 1,000,000
units at a price of $0.10 for an aggregate gross proceeds to Alphinat
This third tranche closing follows the confirmation earlier this month
by the TSX Venture Exchange of the suitability as insider of one of the
In connection with the private placement, Alphinat has paid to Capital
CCFL s.e.n.c., an Exempt Market Dealer registered with the Autorité des
marchés financiers, a finder's fee in a maximum amount equal to 6% of
the gross proceeds of the private placement raised through CCFL Capital
and grant compensation options to Capital CCFL to purchase up to 6% of
the common shares issued in connection with the private placement.
Each compensation option will entitle its holder to acquire one
additional common share of Alphinat at a price of $0.10 on or before
February 11, 2016.
The common shares and warrants issued by Alphinat under this third
tranche closing are subject to a four-month hold period expiring on
June 12, 2011, in accordance with applicable securities laws. The
second closing of the private placement has increased the number of
issued and outstanding common shares of Alphinat to 47,453,612. The
private placement is subject to final regulatory approval from the TSX
Software for the Smart Enterprise™ providing agility to leverage
existing IT assets and lower costs.
Alphinat develops, markets and supports software technology that enables
non-technical managers to configure and deploy form based Web
applications and utilities that helps organizations and governments
better serve clients. This technology uses sophisticated data
organization and processing software to automate interactions between
systems, employees, clients, suppliers and partners. The software is
ubiquitous across organizational entities and information processing
platforms, permitting a high level of collaboration in delivering
complex service outcomes using existing legacy systems. It provides
efficient and cost-effective solutions to clients at both the time of
acquisition and on an ongoing basis.
Alphinat technology could also be used in the healthcare, banking,
insurance, telecommunications and other sectors, in modernising,
automating and rendering cost-effective a number of business processes
at a fraction of the cost associated with conventional customized
solutions. For more details about Alphinat or its software suite,
please visit www.alphinat.com.
Certain statements in this document, including those which express
management's expectations or estimations with regard to the Company's
future performance, constitute "forward-looking statements" as
understood by applicable securities laws. Forward-looking statements
are, of necessity, based on a certain number of estimates and
hypotheses; while management considers these to be accurate at the time
they are expressed, they are inherently subject to significant
uncertainties and risks on the commercial, economic and competitive
levels. We advise readers that these forward-looking statements are
subject to risks, uncertainties, and other known and unknown factors
that may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance
or achievements expressed or implied in these forward-looking
statements. A number of factors could cause significant differences
between actual results and those described in forward-looking
statements. Investors are advised to not rely unduly on the
forward-looking statements. This advisory applies to all
forward-looking statements, whether expressed orally or in writing,
attributed to Alphinat or to any individual expressing them in the name
of the Company. Unless required by law, the Company is under no
obligation to publicly update these forward-looking statements, whether
to reflect new information, future events, or other circumstances.
Risks and uncertainties that bear on the Company are described in
greater detail in the Company's Annual Report.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Alphinat inc.
For further information:
Mr. Philippe Lecoq
Chief Executive Officer Alphinat Inc.
(514) 398-9799 ext 222