Applied Terravision Shareholders Exercise 1.1 Million Warrants; Action Does Not Dilute Shareholdings of Company; Increases Institutional Holdings.Business Editors DALLAS and CALGARY, Alberta--(BUSINESS WIRE)--Jan. 17, 2000 NOTE: All figures in Canadian dollars Noun 1. Canadian dollar - the basic unit of money in Canada; "the Canadian dollar has the image of loon on one side of the coin" loonie dollar - the basic monetary unit in many countries; equal to 100 cents unless otherwise noted. Applied Terravision Systems Inc. (ATS) (CDNX CDNX See Canadian Venture Exchange (CDNX). :TER Third version. See bis. ) announced today 1.1 million warrants have been exercised by shareholders. Each warrant is valued at $1.20. This will result in no dilution in the number of fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. shareholdings of the company, said Bob Tretiak, ATS' 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. , but does increase institutional holdings. "This move is a response to market interest," he said. "Investors are responding well to our successful business strategy and have recently increased greatly both the share volume and share price." The result of the exercise of these warrants is an improvement in ATS' working capital and balance sheet. The 1,887,222 Common Share Purchase Warrants were issued in July 1998 as part of ATS' acquisition of Artesia Data Systems, Inc., of Dallas. The warrants were cleared by prospectus in January 1999. "The Artesia Systems acquisition has returned well over 100 percent on our investment and has opened the door to the huge U.S. market for the software and services we provide," Tretiak said. With offices in Dallas, Houston and Calgary, Applied Terravision Systems provides mission-critical e-business information solutions that effectively manage the complex ownership of revenue-producing assets for government organizations, blue-chip companies Blue-chip company Used in the context of general equities. Large and creditworthy company. Company renowned for the quality and wide acceptance of its products or services, and for its ability to make money and pay dividends. Gilt-edged security. and small businesses around the globe. This news release and more information are available at www.atsi.com. |
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