MONTREAL, April 12 /CNW Telbec/ - BlueTree Wireless Data Inc.
(TSX-V: BTW - "BlueTree"), a leading developer and manufacturer of wireless
modems and software solutions for commercial and industrial applications,
announced today that it has engaged CTI Capital Inc. ("CTI") to raise a
minimum of $1,500,000 and a maximum of $2,500,000 by way of a best-efforts
private placement offering (the "Offering") of units of BlueTree (the "Units")
to accredited investors in the provinces of Alberta, British Columbia,
Ontario, and Quebec.
Priced at $0.15, each Unit will be comprised of one (1) common share of
BlueTree ("Common Share") and one-half (1/2) common share purchase warrant
("Warrant"). Each full Warrant will entitle its holder to purchase one Common
Share at a price of $0.25 at any time on or before the 18-month anniversary of
the closing date.
A minimum of 10,000,000 Units and a maximum of 16,666,667 Units will be
issued as a result of the Offering.
About BlueTree Wireless Data Inc.
BlueTree Wireless Data Inc. is a leading developer and manufacturer of
wireless modems and software solutions for commercial and industrial
applications. BlueTree Wireless's CDMA and GSM based modems are designed to
operate on cellular networks worldwide enabling Mobile Computing and M2M
applications in the Public Safety, Fleet Management, Field Service Automation,
SCADA and Telemetry markets. BlueTree Wireless is publicly traded on the
Canadian (TSX) Venture Exchange.
About CTI Capital Inc.
Founded in 1987, CTI Capital Inc. is a full-service boutique securities
dealer, offering debt and equity trading, portfolio management, research,
retail brokerage, and investment banking services. The investment banking
department specializes in initial public offerings and new issues, private
placements, reverse take-overs, capital pool companies, mergers and
acquisitions, and exchange sponsorships for emerging growth-oriented
For further information:
For further information: Mr. Michael Ramsay, President, BlueTree
Wireless Data Inc., (514) 422-9110, x. 445, firstname.lastname@example.org; Mr.
Louis G. Plourde, Director, Investment Banking, CTI Capital Inc., (514)