MONTREAL, Dec. 31 /CNW Telbec/ - In accordance with regulatory
requirements, Richard Groome announces that Sofame Technologies Inc.
("Sofame"), a Toronto Venture Exchange company (symbol: SDW) has recently
issued $1,750,000 in debentures of which he acquired directly or indirectly
$125,000 which may be converted into 833,333 common shares of Sofame.
Accompanied with these debentures are 416,665 common share purchase warrants
exercisable at $0.25 into an equivalent number of common shares of Sofame and
will expire on December 10, 2009. Further to another tranche closed on
December 21, Mr. Groome has the power to exercise control or direction over an
amount of $150,000 which may be converted into 1,000,000 common shares of
Sofame. Accompanied with these debentures are 499,998 common share purchase
warrants exercisable at $0.25 into an equivalent number of common shares of
Sofame and will expire December 21, 2009. As compensation for services,
Notre-Dame Capital, a company controlled by Mr. Groome was issued 1,058,336
broker warrants in three separate tranches; 458,337 on December 10, 483,333 on
December 21, and 116,666 on December 28 and exercisable into equivalent number
of common shares of Sofame which will expire two years from the above closing
Prior to the issue in December by Sofame of these debentures, Mr. Groome
had a direct or indirect interest (including securities over which he
exercises control or direction) and assuming full conversion and exercise of
all warrants; Mr. Groome held 17.11% of Sofames issued and outstanding
capital. Upon calculation of Mr. Groome's holdings after the closing on
December 10, his holdings had increased by 1.7% to 18.81%. Further to the
issue by Sofame of the debentures on December 21 and 28 and assuming full
conversion thereof and full exercise of all warrants, the direct or indirect
interest (including securities over which he exercises control or direction),
in Sofame's issued and outstanding capital as of December 31, 2007 has
increased to 20.93% on a partially diluted basis.
The securities acquired by Mr. Groome referred to above are held for
investment purposes only. These investments will be reviewed on a continuing
basis and holdings may be increased or decreased in the future, depending on
economic or market conditions or matters relating to the applicable issuer.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release nor has
it approved nor disapproved the content thereof.
For further information:
For further information: or to obtain a copy of the early warning
report: Ms. Sarah Perry, (514) 907-4989, Notre-Dame Capital Inc.