Amendment to Brokered and Non-Brokered Private Placements -- $892,500.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--Dec. 1, 1998-- Sideware Systems Inc. Announces an Amendment to Its Private Placement Announced in Its News Release of November November: see month. 18, 1998. The Company has amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. the brokered portion of the private placement by reducing the number of special warrants from 1,000,000 to 500,000, and by reducing the number of brokers' warrants from 250,000 to 125,000. The Company will pay to the agent a cash fee equal to 7.5% of the proceeds of the brokered offering (ie. a maximum fee of $13,125). The Company has also amended the non-brokered portion of the private placement by increasing the number of special warrants offered to 2,050,000 and by introducing a 10% penalty clause by which the Company will issue 1.1 units upon conversion of each special warrant if it fails to receive confirmation of filing of an AIF AIF Annual Information Form AIF Apoptosis-Inducing Factor AIF Agence Intergouvernementale de la Francophonie (French: Intergovernmental Agency for Francophony) AIF Australian Imperial Force and to deliver the necessary certification to purchasers of the special warrants within four months from the date of closing. The gross proceeds from the foregoing private placements, in the sum of $892,500, will be used for business and product development and general working capital. Otherwise the terms and conditions announced in the news release of Nov. 18, 1998, remain the same. ON BEHALF OF THE BOARD OF DIRECTORS OF SIDEWARE SYSTEMS INC. Grant Sutherland Sutherland or Sutherlandshire, former county, N Scotland. Under the Local Government Act of 1973, Sutherland became (1975) part of the new Highland region (now a council area). Director The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the accuracy of this news release. |
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