TORONTO, June 29 /CNW/ - Mosaic Venture Partners II Limited Partnership
("Mosaic") announced today that it has acquired, by way of private placement
from treasury, 850,000 units ("Units") of Decision Dynamics Technology Ltd.
("DDY") at a subscription price of $0.30 per Unit for an aggregate gross
subscription price of $255,000. 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 issue.
Prior to this acquisition, Mosaic owned and controlled 16,663,118 Common
Shares of DDY, representing approximately 28% of DDY's issued and outstanding
shares on a fully-diluted basis. After completion of the acquisition of the
Units, Mosaic will own and control 17,513,118 Common Shares and Warrants to
acquire an additional 425,000 Common Shares, representing approximately 30% of
DDY's issued and outstanding shares on a fully-diluted basis.
The securities of DDY have been acquired by Mosaic to further support
DDY's growth. The acquisition of the securities of DDY by Mosaic was made in
the ordinary course of business for investment purposes and was not for the
purpose of influencing the control or direction of DDY.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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: Andrea Pasoff, Director of Finance, Mosaic
Venture Partners II Limited Partnership, 65 Front Street East, Suite 200,
Toronto, Ontario, M5E 1B5, (416) 367-2888, email@example.com,