TORONTO, Oct. 15 /CNW/ - Hosted Data Transaction Solutions Inc. (formerly
Dexit Inc.) (TSX: HDX) ("HDX" or the "Company") is pleased to announce that
further to its previous announcement regarding its rights offering to its
shareholders resident in Canada, a total of 2,355,006 units of HDX were
subscribed for at a price of $0.80 per unit for gross proceeds of
approximately $1,884,005, resulting in the issuance of 2,355,006 Class A
voting common shares ("Common Shares") and 1,177,499 warrants.
Each unit was comprised of one Common Share and one-half of one warrant,
with each whole warrant entitling the holder to purchase one additional Common
Share at the price of $1.25 per share at any time until 5:00 p.m. (Toronto
time) on the date that is the earlier of (a) August 3, 2009 and (b) the 10th
day after the day on which HDX gives notice to the holders of the warrants
that the Common Shares trade at a closing market price on the Toronto Stock
Exchange of greater than $1.75 per share for a period of 20 consecutive
trading days at any time after four months and one day after the closing of
the rights offering.
HDX intends to use the net proceeds for general working capital purposes
and to fund on-going operations and for potential acquisitions, however, the
Company has not identified any specific acquisition targets at this time.
The Board of Directors of HDX wishes to thank its shareholders who
participated in and contributed to the success of the rights offering.
About the Company
Hosted Data Transaction Solutions Inc. is in the business of managing
merchant transactions with consumers and facilitating payment. HDX develops
and deploys touch screen POS system software and associated enterprise
management tools and has developed and deployed numerous POS applications. HDX
also provides system hardware integration services, merchant staff training,
system installation services, and post sale software and hardware support
Leading edge technology also includes customer self serve kiosks and
"line buster" mobile point of sale terminals. These products have been
designed to dramatically enhance customer throughput and drastically reduce
customer queues. These technologies are especially effective in high foot
traffic environments that have limited cash register counter space, limited
retail square footage, and the absence of a drive through.
HDX pioneered an "instead of cash"(R) electronic based payment
facilitation service. The Dexit(R) Service can be private branded for a
specific merchant and enables customers to pay for items quickly and
conveniently with the tap of a RFID (radio frequency identification) tag
linked to a pre-paid account. This Dexit(R) Service payment solution is
especially well suited for corporate and institutional cafeteria environments
where hundreds of customers purchase and pay for meals in compressed periods
throughout the business day.
To find out more about Hosted Data Transaction Solutions Inc., visit our
website at www.dexit.com.
For further information:
For further information: Paul Howell, President/CEO, Hosted Data
Transaction Solutions Inc., (416) 703-6462, extension 263