Printer Friendly

ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. $5,800,000 EQUITY FINANCING COMPLETION

 BURNABY, British Columbia, Oct. 19 /PRNewswire/ -- Advanced Gravis Computer Technology Ltd. ("Gravis") of Burnaby announces the completion of a private placement offering of Special Warrants issued on July 7, 1993. The private placement of 2,000,000 Special Warrants at purchase price of $2.90 per Special Warrant raised gross proceeds of $5,800,000, $3,300,000 of which had been held in escrow pending the issuance of receipts for a prospectus to be filed in British Columbia and Ontario. The prospectus was filed and receipts obtained as required by Oct. 15, 1993, and therefore the $3,300,000 has been released to Gravis. The proceeds from the placement will be used in part to fund new product development and to supplement working capital.
 Advanced Gravis is a leading designer and manufacturer of high- quality entertainment devices for personal computers, including joysticks, PC GamePads, MouseSticks, and UltraSound sound cards.
 -0- 10/19/93
 /CONTACT: Grant Russell, President, 604-431-5020/
 (AED.)


CO: Advanced Gravis Computer Technology ST: British Columbia IN: CPR SU:

LS-JL -- LA045 -- 4291 10/19/93 22:19 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 19, 1993
Words:180
Previous Article:TRIMBLE RECEIVES STC APPROVAL FOR GPS RECEIVER IN BEECH KING 200 AIRCRAFT
Next Article:GILCHRIST TIMBER CO. PAYS $3.69 MILLION SETTLEMENT
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters