Wellington Financial provides $4 million financing for Eedo Knowledgeware



    TORONTO, June 28 /CNW/ - Wellington Financial LP, a privately held
specialty finance firm, today announced a $4 million venture debt debenture
financing for Eedo Knowledgeware ("Eedo"). Eedo, based in Gatineau, P.Q., is a
leading innovator of online real-time learning and knowledge systems used to
drive productivity and efficiency in the workplace. The funds will be used to
fuel Eedo's ongoing growth requirements.
    "The Eedo team has done a fantastic job achieving a number of significant
milestones. And it has done so without any outside equity support. A
tremendous foundation has been laid, with a growing list of world class
customers, and a product that is second to none," said Mark Usher, Partner of
Wellington Financial LP. "We are very pleased that Eedo has chosen Wellington
Financial's True Growth Capital to support its next stage of significant
growth."
    Eedo's main product, ForceTen, is a browser-based learning content
management system which effectively manages learning programs, knowledge
sharing, assessment, rapid authoring and performance support. This blended
approach allows ForceTen and its suite of complementary products to reduce the
cost of learning development and provide rapid learning to employees, giving
clients a competitive advantage in the marketplace.
    "This new financing will help us capitalize on the growing number of
companies that are turning to learning content management systems to help them
drive employee productivity while reducing the cost of learning," said John
Hudson, CEO, Eedo Knowledgeware. "We regard Wellington Financial as a partner
in this next stage of our growth and look forward to working together to
achieve our milestones."
    Advisory services provided to Eedo by KPMG Corporate Finance (Ottawa).
LaBarge Weinstein and Borden Ladner Gervais LLP provided legal advice for this
transaction.
    Wellington Financial LP is currently managing a $400 million investment
program via Wellington Financial Fund III. Since inception, Wellington
Financial LP has led or participated in more than $200 million in
transactions, making it one of the most active funds of its kind in Canada.

    About Wellington Financial LP

    Wellington Financial LP is a privately held specialty finance firm
providing operating lines of credit, term, venture and amortizing loans up to
$40 million. Wellington Financial LP is currently deploying a $400 million
investment program via its third fund. The fund's clients vary in size and
business model, but generally have current year revenue of approximately
$5 million. Wellington Financial LP is managed by a partnership controlled by
fund management and Clairvest Group Inc. (CVG:TSX), who jointly have
contributed a large financial stake to Fund III. Limited partners include
several of Canada's largest institutional investors, crown corporations,
financial institutions and pension funds. Please visit the fund website at
www.wellingtonfund.com, or the Wellington Financial team blog at
www.wellingtonfund.com/blog.

    About Eedo Knowledgeware

    Eedo Knowledgeware is a leading provider of learning and knowledge
systems to drive productivity and efficiency. Eedo offers a set of powerful,
adaptable and easy-to-use tools for business people and learning experts,
addressing practical knowledge management requirements including; learning
content management, dynamic delivery, rapid authoring, assessment, knowledge
sharing, performance support and indexing and search. Eedo's award winning
products are utilized in a broad range of industries and enterprises such as
The Boeing Company, Convergys, Foreign & Commonwealth Office, Internal Revenue
Service and Lufthansa. Eedo is privately held, with offices in the U.S.A.,
Canada, Germany, Netherlands and the United Kingdom. www.eedo.com.




For further information:

For further information: Amy Olah, Marketing Manager, Wellington
Financial LP, Tel: (416) 682-6002, aolah@wellingtonfund.com; Lisa Courtney
Lloyd, Jolita Communications, Tel: (613) 271-7512, lcourtneylloyd@jolita.ca

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Wellington Financial LP

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