MONTREAL, March 20 /CNW Telbec/ - Alphinat Inc. (TSX Venture Exchange.
NPA) announces that it has held a first closing of a private placement by
issuing 1,562,500 units at a price of $0.08 per unit, for gross proceeds to
Alphinat of $125,000. Each unit consists of one common share of Alphinat and
one common share purchase warrant. Each warrant entitles the holder to
purchase one additional common share at a price of $0.12 per share until March
The sale of the 1,562,500 units represents the first tranche of a private
placement of up to 6,250,000 units, for maximum gross proceeds to Alphinat
$500,000. Alphinat anticipates that a second closing of the private placement
will take place on or about April 15, 2008.
The proceeds from the private placement will be added to Alphinat's
working capital and general corporate purposes.
The common shares and warrants issued by Alphinat under the private
placement are subject to a four-month hold period expiring on July 21, 2008,
in accordance with applicable securities laws and the policies of the TSX
Venture Exchange. The first closing of the private placement has increased the
number of issued and outstanding common shares of Alphinat to 36,419,167.
Alphinat Inc. develops, markets and supports software technology that
enables non-technical managers to configure and deploy Web applications and
utilities to better serve clients. This technology uses sophisticated data
organisation and processing software to automate interactions between systems,
employees, clients, suppliers and partners. The software is ubiquitous across
organisational entities and information processing platforms, permitting a
high level of collaboration in delivering complex service outcomes using
existing legacy systems.
Using its SmartGuide software suite, Alphinat implemented an innovative
on-line government solution that is entirely centered on the needs of citizens
and entrepreneurs. This solution was awarded IBM's "Top Star" award for
on-line government solutions among applications from 189 different countries.
Alphinat technology could also prove useful to the healthcare, banking,
insurance, and telecommunications sectors, in modernizing, automating and
rendering cost-effective a number of business processes at a fraction of the
cost associated with conventional customized solutions. For more details about
Alphinat or its software suite, please visit www.alphinat.com.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Mr. Philippe Lecoq, Chief Executive Officer
Alphinat Inc., (514) 398-9799 ext 22