EDMONTON, June 1 /CNW/ - Serenic Corporation (the "Corporation" or
"Serenic") (TSX-V:SER), an international software developer and marketer
specializing in the deployment of Microsoft integrated business solutions,
announced that it has closed, on May 31, 2007, the first portion of the
non-brokered private placement previously announced on May 2, 2007.
In the announcement, the Corporation stated its intention to issue
between 1,700,000 and 2,000,000 Units ("Units") at a price of $0.60 per Unit,
each Unit consisting of one (1) common share and one-half (1/2) of a
transferable common share purchase warrant exercisable at a price of $0.80 for
a period of one year from closing, provided that if after four months and one
day following the closing date the closing price of the common shares is equal
to or exceeds $1.50 for 20 trading days (which do not need to be consecutive
days), then the warrants shall automatically accelerate to expire on the date
which is 30 days after the 20 trading days.
Pursuant to this first closing, the Company has issued 1,784,988 Units as
described above, for total gross proceeds of $1,070,993. The Corporation has
also paid finders' and administrative fees totalling approximately $88,260, to
arms-length parties who assisted in completing this portion of the private
placement, and has issued to such parties compensation warrants entitling the
holders thereof to purchase an aggregate of up to 178,499 common shares for a
period of one year from the closing date.
The net proceeds from this closing of the private placement will be used
for general business purposes, including the pursuit of strategic growth
About Serenic Corporation
Serenic Corporation publishes mission-critical software products for
not-for-profits (NFP), educational institutions and governments. The Company's
products are based on leading application and technology platforms from
Microsoft, including Dynamics NAV, SQL Server, .NET, and Access and are
distributed through value-added resellers and direct sales organizations. In
addition, Serenic Corporation is the exclusive developer of the human resource
management and payroll products distributed by Microsoft as part of its
Dynamics NAV ERP solution for North American markets.
ON BEHALF OF THE BOARD OF DIRECTORS
By: "Dwayne Kushniruk"
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Dwayne Kushniruk, firstname.lastname@example.org,
Phone: 1-877-426-5385 x 509