Extenway Announces a $2.5M Private Placement Financing
October 20 2011 - 10:25AM
Marketwired
Extenway Solutions Inc. ("Extenway") (TSX VENTURE:EY) is pleased to
announce that it has completed yesterday a first closing in
connection with its previously announced private placement (the
"Offering").
The Offering was comprised of 19,230,801 common shares (the
"Common Shares") of Extenway at a price of $0.13 per share for
gross proceeds of $2,500,004.
The proceeds of the Offering will be used to the pay the
transaction costs and for working capital purposes.
IBS Capital, s.e.n.c., a Montreal-based Exempt Market Dealer, is
entitled to a finder's fee in connection with the Offering, which
finder's fee is equal to $175,000 (plus applicable taxes).
All Common Shares issued to subscribers under the Offering are
subject to a four-month and one (1) day hold period until February
20, 2012, pursuant to securities legislation and the policies of
the TSX Venture Exchange. The Common Shares issued pursuant to the
Offering have not been nor will they be registered under the United
States Securities Act of 1933, as amended, or state securities
laws, and may not be offered or sold in the United States or to an
account for the benefit of US persons, absent such registration or
an exemption from registration.
One insider participated in the Offering subscribing for
1,507,724 Common Shares in consideration for a purchase price of
$196,004.12, which subscription represents 7.84% of the
Offering.
About Extenway Solutions Inc.
Extenway Solutions Inc. (TSX VENTURE:EY) (www.extenway.com)
provides IT, communications, entertainment and education solutions
to the healthcare sector. Extenway terminals offer a wide range of
integrated content and services, including television, Internet,
Microsoft Office, and video conferencing. The terminals also offer
the possibility of managing patient appointments and regulating a
patient's bedroom environment. Extenway allows healthcare
organizations to optimize the way they manage and coordinate
interactions between patients, medical staff and those working in
administration. The company is based in Baie D'Urfe in the Montreal
region of Canada. For more information, visit www.extenway.com.
Disclaimer - Safe Harbour Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements. These forward-looking statements relate
to the future financial conditions, results of operations or
business of Extenway. These statements may be current expectations
and estimates about the markets in which Extenway operates and
management's beliefs and assumptions regarding these markets. These
statements are subject to important risks and uncertainties which
are difficult to predict and assumptions which may prove to be
inaccurate. The results or events predicted in forward-looking
statements may differ materially from actual results or events.
Extenway disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise. In particular,
forward-looking statements do not reflect the potential impact of
any merger, acquisitions or other business combinations or
divestitures that may be announced or completed after such
statements are made.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Alexandra Graveline Zone franche 514-371-5715, ext.
203agraveline@zonefranche.ca David Brown Chief Financial Officer
Extenway Solutions Inc. 514-694-1916 514-694-4280 (FAX)