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TORONTO, Feb. 21 /CNW/ - Cyberplex Inc. (TSX: CX) a leading technology
firm focused on providing web advertising solutions and on-line customer
acquisition strategies, today announced the successful closing of its
previously announced private placement (the "Private Placement"). The Private
Placement was fully subscribed, resulting in the issuance of 8,333,334 common
shares of the Corporation (the "Shares") at a price of $0.60 per Share for
gross proceeds of $5,000,000. The proceeds of the Private Placement will be
used by the Corporation for general corporate purposes.
The Private Placement was undertaken by a syndicate of agents co-led by
Paradigm Capital Inc. and GMP Securities L.P., and including Jones, Gable &
Company Limited, M Partners Inc. and Thomas Weisel Partners Canada Inc.
(collectively, the "Agents"). For consideration of the Agents' services, the
Agents received a cash commission of 6% of the gross proceeds raised and
compensation options to purchase an aggregate of 333,333 common shares of the
Corporation (the "Compensation Shares") (equal to 4% of the aggregate number
of Shares issued pursuant to the Private Placement), each compensation option
exercisable to purchase one Compensation Share at a price of $0.65 per
Compensation Share at any time on or before August 21, 2009.
The Shares and Compensation Shares will be subject to a four month hold
period following closing of the Private Placement, expiring June 22, 2008.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
Cyberplex Inc. (www.cyberplex.com) is a leader in providing web
advertising solutions and on-line customer acquisition strategies, as well as
application expertise, to its clients.
The Company, through its subsidiaries, has developed a proprietary
affiliate network which combined with advertising relationships and teams of
technology consultants and design, usability and solutions specialists, assist
customers with all aspects of their web-based programs as they design, develop
and promote solutions that deliver results.
With over 12 years of experience serving Fortune 1000 clients including
Thomson, Atlantic Lottery Corporation, Xerox, Advanced Micro Devices (AMD),
and the Royal Bank of Canada, Cyberplex is frequently the firm of choice for
business leaders looking for reliable solutions. Cyberplex serves clients
across Canada and the US, and is headquartered in Toronto, Canada with offices
in San Diego, Austin and Halifax.
This news release may contain forward-looking statements that are based
on management's current expectations and are subject to known and unknown
uncertainties and risks, which could cause actual results to differ materially
from those contemplated or implied by such forward-looking statements.
Cyberplex is under no obligation to update any forward-looking statements
contained herein should material facts change due to new information, future
events or otherwise.
The Toronto Stock Exchange has not reviewed and therefore does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Isaac Osiel, Chief Financial Officer, (416)
597-8889; or Susie Ibbotson, Media Relations, Cyberplex, (416) 260-4763,
1-888-597-8889 ext. 4763, firstname.lastname@example.org