BEACONEYE INSTITUTE RAISES $12 MILLION TO FUND CONTINUING EXPANSION.TORONTO, Ontario--(BUSINESS WIRE)--Dec. 16, 1996--BeaconEye Inc., which operates as Beacon Eye Institute ("Beacon"), today announced that its current offering of common shares has been priced and underwritten by ScotiaMcLeod Inc., Midland Walwyn Capital Inc., Gordon Capital Corporation, Yorkton Securities Inc., and CIBC Wood Gundy CIBC Wood Gundy was created in 1988 with the purchase of Wood Gundy Inc. by CIBC. CIBC Wood Gundy is a division of CIBC World Markets. Canadian Imperial Bank of Commerce Chief Executive Officer: Gerald T. McCaughey | FY 2006 Statistics: Net income: $2. Securities Inc. Completion of this $12 million offering in addition to the $25 million raised through the special warrant financing in June 1996 will result in the Company having raised $37 million in the equity markets within a seven-month period. Following the three-for-one split of the existing common shares of the Company in November 1996, the common shares to be issued in connection with this offering have been priced at $9.50. (Special warrants of the Company, since fully exchanged on a one-for-one basis for common shares of the Company, were issued in June 1996 at a price of $9.07 per special warrant, as adjusted.) Proceeds of the offering will be used for capital expenditures and development expenses in connection with the opening of new Laser-PRK(tm) centers and for ongoing operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . The common shares of the Company, already listed on the Winnipeg Stock Exchange, will be listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. following completion of the offering. Beacon provides facilities and services for the performance of Laser-PRK vision correction. Laser-PRK is performed with an excimer laser A gas laser in which a very short electrical pulse excites a mixture containing a halogen such as fluorine and a rare gas such as argon or krypton. It produces a brief, intense pulse of ultraviolet light. which generates ultraviolet light Ultraviolet light A portion of the light spectrum not visible to the eye. Two bands of the UV spectrum, UVA and UVB, are used to treat psoriasis and other skin diseases. for gently reshaping the surface of the eye to improve natural vision and reduce or eliminate the need to wear glasses or contact lenses contact lenses contact npl → verres mpl de contact contact lenses contact npl → Kontaktlinsen pl contact lenses npl . Beacon is progressing with its expansion plan. In addition to its Toronto facility, six U.S. centers -- San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. , Austin, Dallas/Fort Worth, Houston, Denver, and Fort Lauderdale -- have been opened. Three additional centers -- Tampa, Atlanta, and Orange County -- are under construction and are scheduled to open within the next two months. Further expansion is planned as the market for laser vision treatment continues to grow. CONTACT: BeaconEye Inc. Keith Moore, 905/897-7161 e-mail: kmoore@beaconeye.com |
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