CSCC Casino Software - Institutional Placement Modified to Consist of Securities of Parent Corp.VANCOUVER, British Columbia--(BUSINESS WIRE)--July 10, 1996--CSCC Casino Software (VSE See DOS/VSE. VSE - Virtual Storage Extended : CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. ) CSCC CSCC Calgary Sports Car Club (Alberta, Canada) CSCC Clemson Sports Car Club CSCC Columbus State Community College (Ohio) CSCC Classic Sports Car Club (UK) Casino Software Corporation (the "Company") is pleased to announce a modification in the terms of its equity placement originally announced by press release dated June 12, 1996. The original announcement described a placement of preferred stock of The Casino Software Corporation of America, the Company's 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. ("CSCA"). As modified, the placement will consist of up to 1,200,000 of the Company's Common Shares, which are offered at a price of C$2.30 per share. The placement is being made through Deutsche Morgan Grenfell/C.J Lawrence Inc. as the Company's agent, on a best efforts basis. Proceeds of the placement will be used to fund CSCA's working capital requirements as previously announced. The Company observed that the modification to the placement will simplify the post-offering capital structure of the Company and CSCA by maintaining the current 100 percent ownership of CSCA by the Company. This Press Release was prepared on behalf of the Board of Directors of the Company who accept full responsibility of its contents. -0- 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 adequacy or accuracy of this release. CONTACT: CSCC Casino Software Corp. Roland M. Thomas, 702/895-7810 |
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