ADVANTEXCEL Announces Private Placements.Business Editors TORONTO--(BUSINESS WIRE)--April 16, 2001 AdvanteXCEL.com Communications Corp. (YAX.U - CDNX CDNX See Canadian Venture Exchange (CDNX). )(AVXCF - OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB) (the "Company"), announces that it has negotiated two private placements with two arm's-length parties for US$125,000 each. Each of the private placees are at arm's-length to each other. The private placees will each subscribe for 1,958,633 Units of AdvanteXCEL. Each Unit of AdvanteXCEL consists of one (1) common share of AdvanteXCEL priced at $0.10 or US$0.06382 per share (based on an exchange rate of US$0.6382 = CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $1.00) and one (1) share purchase warrant with each warrant entitling the holder to acquire one (1) additional common share of AdvanteXCEL at a price of US$0.12 for a period of two (2) years following the closing of the transaction. The placements are expected to close upon the receipt of conditional approval from the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) . Following the completion of the placement the Company would have 28,780,530 common shares outstanding. The funds from the private placements will be used for working capital. AdvanteXCEL's systems and products integrate fax, voice and e-mail technologies allowing users to access messages at anytime from any location. No specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. software is needed, only a computer with an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the connection for access to the AdvanteXCEL website. AdvanteXCEL is publicly traded on the Canadian Venture Exchange (CDNX) under the symbol "YAX.U". AdvanteXCEL has offices in Toronto, Pittsburgh and Buffalo. For more information, contact Mr. Marshall Weinstein, President of AdvanteXCEL at (800) 241-7431, e-mail marshlw@fnmail.com or visit AdvanteXCEL's website at www.advantexcel.com. This news release may include statements that constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Please be cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including risk factors contained in the Company's disclosure documents. The Canadian Venture Exchange has neither approved nor disapproved of the contents of this press release. |
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