EveryWare Announces Warrant Re-pricing; Will Use Funds to Expand Market Presence of Popular Web-Based Products.MISSISSAUGA, ONTARIO--(BUSINESS WIRE)--Feb. 12, 1998--EveryWare Development(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :EVE.) EveryWare Development Inc. ("EveryWare") (ASE-EVE) the leading developer of cross platform software for the construction and analysis of dynamic Web sites, today announced that it has re-priced the majority of the outstanding share purchase warrants of EveryWare. This re-pricing is designed to allow the company to attract new capital to expand the market presence of its two popular product lines; Tango tango Spirited dance; also a South American ballroom dance. It evolved in the dance halls and, perhaps, the brothels of poorer districts of Buenos Aires, Arg., possibly influenced by the Cuban habanera. It was made popular in the U.S. Enterprise, a Web application development tool, and Bolero bolero (bəlâr`ō), national dance of Spain, introduced c.1780 by Sebastian Zerezo, or Cerezo. Of Moroccan origin, it resembles the fandango. , a Web site tracking and analysis application. "The Intranet market opportunity for EveryWare is arriving faster than expected so we want to invest the additional resources which the exercised warrants will provide in marketing and expanding our sales presence," said EveryWare 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. Don Whitbeck. "Re-pricing the warrants also allows those who invested in us in the early days an opportunity to participate going forward, while not increasing the fully diluted shares outstanding of the company." EveryWare's Tango Enterprise Development Studio is the industry leader for the development and deployment of dynamic web applications. Since it first shipped in 1995, it has become the standard Web development environment for over 5,000 Web application developers worldwide. Tango provides Web developers with a superior visual development environment that allows for the creation of dynamic Web applications faster than any other tool on the market. Tango application files work in conjunction with the Tango Application Server, available on Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. NT/95, Sun Solaris, SGI (SGI, Sunnyvale, CA, www.sgi.com) A manufacturer of workstations and servers, founded in 1982 by Jim Clark. The company was founded as Silicon Graphics, Inc., but changed to its acronym in 1999. IRIX A Unix-based operating system from SGI that is used in its computer systems from desktop to supercomputer. It is an enhanced version of Unix System V Release 4. IRIX integrates the X Window system with OpenGL, creating the first real time 3D X environment. , 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) AIX (Advanced Interactive eXecutive) IBM's Unix-based operating system which runs on its Intellistation workstations and pSeries, p5, iSeries and i5 server families. and Apple Macintosh Apple Macintosh - Macintosh platforms. EveryWare's Bolero suite of tools, shipping this quarter, allows Web administrators to monitor (in real time) high-end Web servers generating millions of hits per day. Bolero gives management the ability to identify and quantify activity and user demographics to evaluate a Web site for development and investment return. The new pricing of Everyware's outstanding share purchase warrants includes: Warrants expiring on March 18, 1998: Originally exercisable at a price of $6.00 (post Amalgamation) per common share. The exercise price is reduced immediately to $1.10 per share until expiry on March 12, 1998. Warrants expiring on November 19, 1998: Originally exercisable at a price of $3.50 (post Amalgamation) per common share. The exercise price is reduced immediately to $1.10 per share until March 12, 1998, and thereafter, is reduced to $1.65 per share until expiry on November 19, 1998. Furthermore, the Corporation may, with notice, require any and all outstanding warrants to be exercised or canceled by the Corporation if the trading price Trading price The price at which a security is currently selling. of the shares, for a period of 10 trading days, exceeds 125 percent of the amended price in force. Warrants expiring on March 18, 1999: Originally exercisable at a price of $3.50 (post Amalgamation) per common share. The exercise price is reduced immediately to $1.10 per share until March 12, 1998, and thereafter, is reduced to $1.65 per share until expiry on March 18, 1999. Furthermore, the Corporation may, with notice, require any and all outstanding warrants to be exercised or canceled by the Corporation if the trading price of the shares, for a period of 10 trading days, exceeds 125 percent of the amended price in force. Warrants expiring on July 1, 1999 (InContext shareholder warrants) Originally exercisable at a price of $4.00 per common share. The exercise price is reduced immediately to $1.10 per share until March 12, 1998, and thereafter, is reduced to $1.80 per share until expiry on July 1, 1999. On June 30, 1997, EveryWare Development Canada Corp. ('EDCC'), the predecessor of EveryWare amalgamated a·mal·ga·mate v. a·mal·ga·mat·ed, a·mal·ga·mat·ing, a·mal·ga·mates v.tr. 1. To combine into a unified or integrated whole; unite. See Synonyms at mix. 2. with InContext Systems Inc. ('INI') to form EveryWare (the "Amalgamation"). Under the terms of the amalgamation agreement, the shareholders of EDCC EDCC Edmonds Community College EDCC Engineering Design and Consultancy Centre (University of Western Australia) EDCC European Delivery Contract for Coffee (spot contract for coffee trading delivery) received 0.1 common shares in EveryWare in exchange for each share of EDCC tendered. The shareholders of INI See INI file. received 0.035 common shares in EveryWare and 0.05 warrants with each whole warrant entitling the holder to acquire one EveryWare share for $4.00 per share at any time before July 1, 1999 in exchange for each share of INI tendered. About EveryWare Development Inc. EveryWare is the leading developer of cross-platform software for the construction and analysis of dynamic Web sites. The company supports multiple operating environments, including Windows NT/95, Sun Solaris, IBM AIX, SGI IRIX, and Apple Macintosh. EveryWare has three key products: Tango Enterprise Development Studio, a Web application development toolset; Tango Enterprise Application Server, a Web application deployment system; and Bolero, a Web site tracking and analysis application. Visit our Web site at www.everyware.com. For more information on EveryWare or any of EveryWare's products, call 888-819-2500 or 905-819-1173, or email us at info@everyware.com. EveryWare, the EveryWare logo and Tango Enterprise are trademarks of EveryWare Development Inc. Other product and corporate names may be trademarks or registered trademarks of other companies, and are used only for explanation and to the owners' benefit, without intent to infringe. CONTACT: EveryWare Development Corp. Marie Verdun, 905/ 819-1173 x374 mcverdun@everyware.com or EveryWare Development Corp. Nancy Reuscher, 415/331-7218 nrpr@aol.com |
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