AdvantEdge Obtains Financing Of CDN. $1,059,475.CONCORD, Ontario--(BUSINESS WIRE)--Dec. 18, 1996--David Shneer, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AdvantEdge International Inc. ("AdvantEdge or the Corporation") (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. :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 ) today announced that the Corporation intends to raise Cdn. $2,150,000 from the private placement of up to 1,000,000 special warrant units priced at Cdn. $2.15 each. Each unit will consist of one Subordinate Voting share and one full warrant within exercise price of Cdn. $2.50, if exercised in the first year or Cdn. $3.00 if exercised in the second year. The first tranche of Cdn. $1,059,474.85 closed on December 17, 1996. The balance, up to a maximum of Cdn. $1,090,525.15, is expected to be raised by Gordon Private Client Corporation and the Corporation and should close no later than January 10, 1997. Gordon Private Client Corporation, an affiliate of Gordon Capital Corporation, a major Toronto based securities underwriter and brokerage house, assisted AdvantEdge in this initial subscription. The proceeds will be used to close AdvantEdge's acquisition of a 50 percent equity interest in Stowe Holdings (PTY Pty Austral & S African Proprietary ) Lt. of Cape Town, South Africa, first announced in a press release on October 30, 1996. The remainder of the funds will be used for general working capital purposes. AdvantEdge is a holding company whose wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. AdvantEdge Products and Solutions Inc. holds exclusive distribution rights to certain sophisticated high technology products and systems for the monitoring and management of motor vehicle "fleet" operations. These exclusive rights cover all of North America and 19 countries in Asia. The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved of the information contained herein. CONTACT: Advantedge International Inc. Gary Perkins, 905/ 479-2800 905/ 479-8608 (FAX) 1-888-205-2917 (Toll Free) |
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