AdvantEDGE Announces Private Placement.CONCORD, Ontario--(BUSINESS WIRE)--April 22, 1998--AdvantEdge International (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :AII AII Auto ID Infrastructure AII Agence de l'Innovation Industrielle (French Agency for Industrial Innovation) AII Active Input Interface (used in UNI PMD specs for Copper/Fiber) AII ASEAN Information Infrastructure .) AdvantEDGE International Inc.,(ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. - A.I.I) is pleased to announce that it has entered into a letter of intent to complete a proposed broker sponsored private placement in the amount of up to $3,500,000 (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. ). Acadian Securities Inc. of Halifax, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
Under the terms of the private placement, AdvantEDGE will issue a maximum of 1,750,000 units at a price of $2.00 (CDN) per unit, each unit consisting of one subordinate voting share and 1/2 of a share purchase Warrant. Each whole warrant entitles the holder until December 31, 1999 to purchase an additional subordinate voting share at a price of $2.50. Closing of the placement, subject to regulatory approvals, due diligence and finalization of a formal agency agreement, is scheduled for May 15, 1998. The funds raised from the issue will be used to expand the Company's global operations, to increase staffing levels and to accelerate product development and implementation. AdvantEDGE directly and indirectly through its subsidiaries, manufactures and distributes high technology Radio Frequency Identification See RFID. (RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. ) systems that are utilized by major oil companies and financial institutions as a form of "electronic commerce". The FuelMaster system is a wireless communications system utilizing advanced radio frequency and smart-card technology to control the refuelling process. Only authorized vehicles and drivers can enable the pump to dispense fuel. FuelMaster applications include those for "commercial" fleet operators and the "consumer" market where "automated refuelling systems" provide value added benefits such as convenience, elimination of unauthorized or fraudulent refuelling charges, transaction security and daily reports. FuelMaster's automated process eliminates the need for the driver to carry cash, credit cards or vouchers. -0- Note to Editors: The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. CONTACT: AdvantEDGE International Inc. David Shneer, 905/761-5969, ext.41 Fax: 905/761-5970 E-Mail: dshneer.advantedge@ibm.net |
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