/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
CALGARY, June 1 /CNW/ - Decision Dynamics Technology Ltd. (Decision
Dynamics; TSX-V: DDY), a provider of operations management software to the
energy industry, today announced that the Company intends to raise up to
$3 Million CDN by way of private placement.
The private placement will be done in two parts, a Brokered and a
Non-Brokered Placement. The Brokered Placement will be led by Canaccord Adams
("Canaccord") acting as agent for the Company. Participants in the
Non-Brokered Placement are expected to include Mosaic Venture Partners and
Edgestone Capital Venture Fund, major investors in Decision Dynamics, and
several of the Directors and Senior Management of the Company. The private
placement remains subject to the execution of an agency agreement with
Canaccord, TSX Venture Exchange approval and other usual conditions.
The Company will offer one unit consisting of one common share plus
one-half warrant to purchase one common share for $0.30 per unit. One warrant
entitles the holder to purchase one common share during the next twelve months
for $0.40 per common share.
Canaccord will be entitled to a commission of 8% on funds they have
raised in their capacity as agent ("Canaccord Offering"), a fee equal to
25,000 common shares plus Agents warrants exercisable anytime over the next
eighteen months entitling Canaccord to purchase one common share at $0.30 per
share. Canaccord will receive warrants to purchase a number of common shares
equal to 8% of the common shares issued pursuant to the Canaccord Offering.
"The Company's performance has improved significantly over the last six
months," said Justin Zinke, Decision Dynamics Chief Executive Officer, "These
funds will allow us to accelerate our revenue growth by expanding our sales
force, increasing our marketing presence, and continuing to improve our
Additional information regarding the Company is available on SEDAR at
About Decision Dynamics Technology Ltd.
Decision Dynamics Technology Ltd. is a leading provider of software
solutions to help energy companies more effectively manage their resources and
reduce costs by providing real time visibility into business operations and
performance. Its flagship products include Oncore, a project control and cost
management solution that provides real-time cost information, contract
validation and approvals for capital projects and daily operations management;
and Wellcore, a well information management solution that provides oil and gas
companies with business visibility across the entire well lifecycle enabling
them to make better faster decisions. Decision Dynamics is a Microsoft Gold
Certified Partner. The Company's head office is located in Calgary, Alberta,
Canada. It operates wholly-owned foreign subsidiaries in the United States
with offices in Houston, Texas.
Decision Dynamics trades on the TSX Venture Exchange under the symbol
"DDY". For more information visit www.ddytech.com.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Forward-Looking Statements - Certain statements contained in this release
constitute forward-looking statements or information. These statements relate
to future events or Decision Dynamics' future performance. The use of any of
the words "could", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not historical
facts are intended to identify forward-looking statements or information and
are based on Decision Dynamics' current belief or assumptions as to the
outcome and timing of such future events. Actual future results may differ
materially. Decision Dynamics' annual report to shareholders and other
documents filed with securities regulatory authorities (accessible through the
SEDAR website www.sedar.com) describe the risks, uncertainties and other
factors, such as, our capacity to finance our activities, changes in business
plans and potential delays or changes in plans with respect to development
projects or capital expenditures, that could influence actual results.
Decision Dynamics disclaims any intention or obligation to publicly update or
revise any forward-looking statements or information, whether as a result of
new information, future events or otherwise, except as may be expressly
required by applicable securities law.
For further information:
For further information: David N. Hunt, Chief Financial Officer,
Decision Dynamics Technology Ltd, (403) 451-0691