VANCOUVER, June 12, 2012 /CNW/ - CounterPath Corporation ("CounterPath"
or the "Company") (TSXV: CCV) (OTCBB: CPAH), an award-winning provider
of desktop and mobile VoIP software products and solutions, today
announced that it intends to complete a non-brokered private placement
of up to 1,400,000 units of the Company (the "Units") at CDN$2.50 per
Unit for total gross proceeds of up to CDN$3,500,000 (the "Offering").
The Company may increase the size of the private placement if
warranted. The Company plans to use the proceeds from the Offering
towards general working capital.
Each Unit consists of one common share and one-half of one share
purchase warrant, with each warrant entitling the holder to acquire an
additional common share at an exercise price of US$3.25 per common
share for a period of two years from the closing date.
All of the securities to be issued by the Company in connection with the
Offering will be subject to a hold period, which expires four months
and a day after the closing date. The Offering is expected to close on
or before June 19, 2012 and is subject to approval from the TSX Venture
CounterPath's SIP-based VoIP softphones are changing the face of
telecommunications. An industry and user favorite, Bria softphones for
desktop and mobile devices, together with the company's server
applications and Fixed Mobile Convergence (FMC) solutions, enable
service providers, OEMs and enterprises large and small around the
globe to offer a seamless and unified communications experience across
both fixed and mobile networks. Standards-based, cost-effective and
reliable, CounterPath's award-winning solutions power the voice and
video calling, messaging, and presence offerings of customers such as
Alcatel-Lucent, AT&T, Verizon, BT, Mobilkom Austria, Rogers, Avaya,
BroadSoft, Cisco Systems, GENBAND, Metaswitch Networks, Mitel and NEC.
For more information, visit www.counterpath.com.
Disclaimer: Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
SOURCE CounterPath Corporation
For further information:
Chief Financial Officer, CounterPath
(416) 815-0700 x278