Electric Mail Company Announces Closing of Private Placement.VANCOUVER, British Columbia--(BUSINESS WIRE)--July 9, 1999-- ELECTRIC MAIL (VSE See DOS/VSE. VSE - Virtual Storage Extended :ELE ELE equine leukoencephalomalacia. .) The Electric Mail Company Inc. (the "Company") (VSE:ELE, www.electricmail.com), a leading provider of email outsourcing in North America and rapidly expanding across the globe, is pleased to announce it has closed the private placement of 900,000 units at a price of $1.75 per unit, for gross proceeds of up to $1,575,000. Each unit consists of one common share and one-half non-transferable share purchase warrant, with one full warrant entitling the holder thereof to purchase an additional common share at any time up to 18 months from the closing date at a price of $2.75 per share. The proceeds from the private placement will be used for accelerating expansion and growth initiatives and for general working capital purposes. About The Electric Mail Company Incorporated in 1994, The Electric Mail Company Inc. (VSE:ELE), is a leading provider of email outsourcing in North America and rapidly expanding across the globe. Positioned at the forefront of the emerging email outsourcing sector, the Company's strategic relationships include industry majors such as IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Global Network, Lotus, Novell and BCT BCT Brigade Combat Team BCT Basic Combat Training BCT Best Conventional Pollutant Control Technology (EPA) BCT Business Cards Tomorrow BCT Banque Centrale de Tunisie (Central Bank of Tunisia) .Telus. The Company serves major corporations located throughout North America including, Placer Dome, Fujifilm Canada, Intrawest Corporation, and Ballard Power Systems Ballard Power Systems (TSX: BLD, NASDAQ: BLDP), located in Burnaby, British Columbia -- a suburb of Vancouver -- is a company that designs, develops, and manufactures zero emission proton-exchange-membrane fuel cells. . 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. |
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