/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES./
VANCOUVER, Sept. 6, 2012 /CNW/ - Avigilon Corporation (TSX: AVO)
("Avigilon" or the "Company") is pleased to announce that it has closed
the bought deal equity financing announced August 14, 2012 (the
"Offering"). The Company issued 3,593,750 common shares at a price of
CDN$6.40 per common share for gross proceeds of $23,000,000.
The Offering was underwritten by a syndicate of underwriters led by GMP
Securities L.P. and including PI Financial Corp, Clarus Securities Inc.
and Versant Partners Inc. (collectively, the "Underwriters").
Avigilon granted the Underwriters an over-allotment option, exercisable
in whole or in part, at any time for a period of 30 days following the
closing of the Offering, to purchase, in aggregate, up to an additional
539,062 common shares at a price of $6.40 per common share.
Avigilon intends to use the net proceeds of the Offering to strengthen
the Company's balance sheet, complement funding of working capital for
long term growth and to continue to fund targeted growth initiatives.
The securities referred to in this press release have not been, nor will
they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to,
or for the account or benefit of, U.S. persons absent registration or
an applicable exemption from the registration requirements. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any State
in which such offer, solicitation or sale would be unlawful.
Avigilon (TSX: AVO) is defining the future of protection through
innovative high-definition surveillance solutions. Delivering the
world's best image quality, our industry-leading HD network video
management software and megapixel cameras are reinventing surveillance.
Information about Avigilon can be found at www.avigilon.com.
Forward Looking Statements
Certain statements contained in this news release, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws, including statements related to the
offering, over-allotment and use of proceeds. Often, but not always,
forward-looking statements or information can be identified by the use
of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate" or "believes" or variations of
such words and phrases or statements that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or
be achieved. With respect to forward-looking statements and information
contained herein, we have made numerous assumptions. Although our
management believes that the assumptions made and the expectations
represented by such statement or information are reasonable, there can
be no assurance that any forward-looking statement or information
referenced herein will prove to be accurate. Forward-looking statements
and information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statement or information. Such risks, uncertainties and
other factors include, among other things those risks identified in
Avigilon's prospectus filed on SEDAR at www.sedar.com.
Although we have attempted to identify factors that would cause actual
actions, events or results to differ materially from those disclosed in
the forward-looking statements or information, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended. Also, many of the factors are beyond the control
of Avigilon. Accordingly, readers should not place undue reliance on
forward-looking statements or information. Avigilon undertakes no
obligation to reissue or update any forward-looking statements or
information as a result of new information or events after the date
hereof except as may be required by law. All forward-looking statements
and information herein are qualified by this cautionary statement.
SOURCE: Avigilon Corporation
For further information:
The Equicom Group
T: (416) 815-0700 ext. 261