TORONTO, June 29 /CNW/ - EdgeStone Capital Venture Fund Nominee, Inc.
("EdgeStone") announced today that it has acquired, by way of private
placement from treasury, 833,333 units ("Units") of Decision Dynamics
Technology Ltd. ("DDY") at a subscription price of $0.30 per Unit for an
aggregate gross subscription price of $250,000. Each Unit consists of one
common share of DDY (a "Common Share") and one half of one Common Share
purchase warrant ("Warrant"). Each whole Warrant is exercisable to acquire one
Common Share at a price of $0.40 for a period of one year from the date of
Prior to this acquisition, EdgeStone owned 10,786,067 Common Shares of
DDY representing 18% of DDY's issued and outstanding shares on a fully-diluted
basis. After completion of the acquisition of the Units, EdgeStone will
directly and indirectly own 11,619,400 Common Shares and Warrants to acquire
an additional 416,666 Common Shares representing approximately 20% of the
Common Shares of DDY.
The Common Shares and Warrants currently owned by EdgeStone are held by
EdgeStone as nominee for and on behalf of EdgeStone Capital Venture Fund, L.P.
and its parallel investors.
The securities of DDY have been acquired by EdgeStone to further support
DDY's growth. The acquisition of the securities of DDY by EdgeStone was made
in the ordinary course of business for investment purposes and was not be for
the purpose of influencing the control or direction of DDY.
About Decision Dynamics Technology Ltd.
Decision Dynamics Technology Ltd. is a leading supplier of innovative
knowledge capture, workflow management, reporting and analytics software
solutions. With over 20 years of experience in the Petroleum & Energy
industry, Decision Dynamics has consistently produced innovative technology
solutions for clients. Leading companies rely on Decision Dynamics software
every day to drive improved decision making and business agility across their
most important operational processes. The Company's head office is located in
Calgary, Alberta, Canada. It operates wholly-owned foreign subsidiaries in the
United States of America with offices in Houston, Texas. Decision Dynamics has
approximately 80 employees and trades on the TSX Venture Exchange under the
symbol "DDY" with approximately 51 million shares outstanding. For more
information visit www.ddytech.com.
For further information:
For further information: EdgeStone Capital Venture Fund Nominee, Inc.,
130 King Street West, Suite 600 Toronto, Ontario, M5X 1A6