MONTREAL, April 4 /CNW Telbec/ - FODEX Export Development Fund, Limited
Partnership is pleased to announce that it acquired today 4 million units of
Intercable ICH Inc. at a price of $1.00 per unit, for a total subscription
price of $4 million, at the closing of Intercable's initial public offering.
Each unit is comprised of one common share of Intercable and one common share
purchase warrant. Each warrant entitles the holder to purchase one additional
common share of Intercable at an exercise price of $1.25 until October 4, 2008
and at a price of $1.50 thereafter, until April 4, 2010. The units were issued
by Intercable pursuant to a prospectus dated March 23, 2007.
As a result of this subscription, FODEX holds 4 million common shares and
4 million common share purchase warrants of Intercable, representing
approximately 16.77% of the issued and outstanding common shares and
approximately 16.77% of the issued and outstanding common share purchase
warrants of Intercable.
The common shares and warrants were acquired by FODEX for investment
purposes only. FODEX may increase or decrease its investment in Intercable
depending on market conditions or other relevant factors.
As disclosed in Intercable's final prospectus, FODEX has entered into a
voting agreement with the principal shareholders of Intercable relating to the
appointment of a FODEX representative to the Board of Directors of Intercable.
FODEX is an investment fund with a capital of US$60,000,000 created by
the Solidarity Fund QFL. FODEX's mission is to finance the exports of
Québec-based companies and the realization of international projects that have
an economic impact in Québec. For further information, please consult the
website of FODEX at www.fodexcapital.com.
For further information:
For further information: François St-Arnaud, Chief Executive Officer,
FODEX, (514) 383-0782, email@example.com