DEDICATED TECHNOLOGIES ANNOUNCES CONVERTIBLE DEBENTURE OFFERING.OTTAWA, ONTARIO--(BUSINESS WIRE)--DECEMBER 22, 1994-- DEDICATED TECHNOLOGIES (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :DTEC DTEC Department of Technical and Economic Cooperation (Thailand) DTEC Development Test and Evaluation Center ) Dedicated Technologies Corporation today announced an offering of Convertible Debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. scheduled to close in January 1995. The Corporation seeks to issue up to five (5) Units at $150,000 per Unit for gross proceeds of up to $750,000. Each Unit consists of a Convertible Debenture ("Debenture debenture (dəbĕn`chər), document acknowledging indebtedness. In Great Britain a debenture is practically the same as a bond, and debenture stock is similar to preferred stock. ") in the principal amount of $150,000 and 150,000 Common Share Purchase Warrants ("Warrants"). Each Warrant shall have a five year term and will be exercisable for one common share at an exercise price of $0.50 per common share. The Debentures are in the principal amount of $150,000 each and bear interest at prime plus 2%. Interest is payable upon the maturity of the Debentures. The Debentures will mature upon the earlier of: (i) the closing date of the next equity offering of the Corporation, and (ii) April 30, 1995. The Debentures are convertible, at the option of the holder, into Special Warrants at a rate of two Special Warrants for each dollar of principal. Each Special Warrant is exercisable into one common share at no additional cost to the Special Warrant holder. The Corporation intends to qualify the Special Warrants, Warrants and common shares issuable upon the exercise of the Special Warrants and Warrants under a preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders to be filed by April 30, 1995. The Corporation is continuing with the offering of Special Warrants announced on November 15, 1994 from which the Corporation seeks to raise up to $1,600,000 and anticipates closing early in 1995. Formed in 1989 and located in Ottawa, Canada, Dedicated Technologies Corporation develops, manufactures, markets and supports PC "open system" based digital colour video compression Encoding digital video to take up less storage space and transmission bandwidth. See video codec and data compression. video compression - Compression of sequences of images. solutions for remote monitoring (protocol) remote monitoring - (RMON) A network management protocol that allows network information to be gathered at a single computer. Whereas SNMP gathers network data from a single type of Management Information Base (MIB), RMON 1 defines nine additional MIBs that provide a , security, surveillance and other multimedia applications. Dedicated Technologies Corporation is a public company whose common shares are quoted for trading over the counter on the Canadian Dealing Network (DTEC) in Ontario, Canada. CONTACT: Tod R. Rehm
President and Chief Executive Officer
or
Steven B. Maynes
Chief Financial Officer, at
Tel.: (613) 228-0548
Fax.: (613) 228-0678.
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