/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES./
OTTAWA, July 24, 2014 /CNW/ - Espial Group Inc. (TSX: ESP) ("Espial" or
the "Company") announced today that the underwriters of the Company's
bought deal offering that closed on June 24, 2014 (the "Offering") have
exercised in full their over-allotment option to purchase an additional
526,320 common shares at a price of $2.85 per common share for gross
proceeds to Espial of $1,500,012. It is expected that the exercise of
the over-allotment option will close on July 28, 2014, subject to
The syndicate of underwriters for the Offering was led by GMP Securities
L.P. and included Beacon Securities Limited, Clarus Securities Inc.,
Euro Pacific Canada Inc. and Global Maxfin Capital Inc.
The securities being offered have not been, nor will they be, registered
under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to,
or for the account or benefit of, U.S. persons absent registration or
an applicable exemption from the registration requirements. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any State
in which such offer, solicitation or sale would be unlawful.
About Espial (www.espial.com)
Espial is a leading supplier of digital TV and IPTV software and
solutions to cable MSOs and telecommunications operators as well as
consumer electronics manufacturers. Espial's middleware,
video-on-demand, and browser products power a diverse range of pay-TV
and Internet TV business models. Over 35 million licenses of its
patented software are in use across the world. Espial is headquartered
in Ottawa, Canada and has offices in the United States, Europe, and
Asia. Visit www.espial.com or contact via phone at +1 613 230 4770.
Forward Looking Statements
This press release contains information that is forward looking
information with respect to Espial within the meaning of Section
138.4(9) of the Ontario Securities Act (forward looking statements) and
other applicable securities laws. In some cases, forward-looking
information can be identified by the use of terms such as "may",
"will", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or the negative of these
terms or other similar expressions concerning matters that are not
historical facts. In particular, statements or assumptions about the
closing of the over-allotment option exercise, the timing of such
closing, and any other statements regarding Espial's objectives (and
strategies to achieve such objectives), future expectations, beliefs,
goals or prospects are or involve forward-looking information.
Forward-looking information is based on certain factors and
assumptions. While the company considers these assumptions to be
reasonable based on information currently available to it, they may
prove to be incorrect.
Forward-looking information, by its nature, necessarily involves known
and unknown risks and uncertainties. A number of factors could cause
actual results to differ materially from those in the forward-looking
statements or could cause our current objectives and strategies to
change, including but not limited to our ability to satisfy all
conditions of closing of the over-allotment option exercise (some of
which are beyond our control), and the changing conditions and other
risks associated with the on-demand TV software industry and the market
segments in which Espial operates, competition, Espial's ability to
effectively develop its distribution channels and generate increased
demand for its products, economic conditions, technological change,
unanticipated changes in our costs, regulatory changes, litigation, the
emergence of new opportunities, many of which are beyond our control
and current expectation or knowledge.
Additional risks and uncertainties affecting Espial can be found in the
Short Form Prospectus dated June 17, 2014 and Management's Discussion
and Analysis of Results of Operations and Financial Condition and its
Annual Information Form for the fiscal year ended December 31, 2013
filed on SEDAR at www.sedar.com. If any of these risks or uncertainties were to materialize, or if the
factors and assumptions underlying the forward-looking information were
to prove incorrect, actual results could vary materially from those
that are expressed or implied by the forward-looking information
contained herein and our current objectives or strategies may change.
Espial assumes no obligation to update or revise any forward looking
statements, whether as a result of new information, future events or
otherwise, except as required by law. Readers are cautioned not to
place undue reliance on these forward-looking statements that speak
only as of the date hereof.
SOURCE: Espial Group
For further information:
For inquiries from the financial press or analysts, contact:
Chief Financial Officer
Espial Group Inc.
Phone: +1 613-230-4770
Espial Group Inc.
Phone: +1-613-230-4770 x1145