Advantedge Completes Financing of Cdn. $3.5 Million.CONCORD, Ontario--(BUSINESS WIRE)--June 16, 1998--AdvantEdge Intl.(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :AII.) 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) announced it has completed an equity financing of 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. $1,050,000, from the private placement of 525,000 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 30, 1999, to purchase one subordinate voting share at a price of $2.50. This financing is in addition to the first tranche of the private placement which closed on May 25, 1998 for gross proceeds of CDN$2,450,000. The total gross proceeds of the private placements were, as planned, CDN$3,500,000. Acadian Securities Inc. of Halifax, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
According to 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 "we are pleased to have completed this financing. We are also delighted to have broadened our institutional shareholder base by the participation of the Canadian Science and Technology Growth Fund Inc., a Venture Capital Fund, investing primarily in early stage Canadian technology businesses." 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". 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. Alberta Stock Exchange has neither approved nor disapproved of the information contained herein.
CONTACT: AdvantEdge International Inc.
David Shneer, 905/761-5969, ext.41
905/761-5970 (FAX)
E-Mail: dshneer.advantedge@ibm.net
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