Extenway Solutions Announces its Intention to Proceed With a Private Placement of Units for a Maximum Amount of 8M$
23 March 2010 - 2:28AM
Marketwired
Extenway Solutions Inc. (TSX VENTURE: EY) ("Extenway" or the
"Corporation") announces its intention to proceed with a private
placement of units for a maximum amount of 8M$.
Each unit of the private placement are to be issued at a price
per unit of $ 0.25 and will consist of one common share plus one
common share purchase warrant, where each common share purchase
warrant entitles the holder to purchase one common share at a price
of i) $0.50 within twelve months following the issuance of the
warrant, ii) $0.70 between twelve months and one day and
twenty-four months from the issuance of the warrant and, iii) $1.00
between twenty-four months and one day and on the date that is
thirty-six months from the issuance of the warrant. Pursuant to
this proposed private placement, a maximum of 32,000,000 common
shares and 32,000,000 common share purchase warrants of Extenway
could be issued.
The Corporation also intends to proceed with the conversion of
existing debts into securities of the Corporation for an amount of
up to $3,756,165 with creditors of the Corporation. The Corporation
has received the conditional approvals of the TSX Venture Exchange
to proceed with the private placement and debt conversion.
About Extenway Solutions Inc.
Extenway is a trusted provider of media, connectivity and
communications solutions serving the hospitality and healthcare
industries. The company's services include Interactive Television
Solutions, Bedside Terminal Solutions, as well as Internet,
entertainment, Content, Marketing, Advertising Media, Education and
Integration Solutions. Extenway enables guest-centric organizations
get connected, informed and entertained. For more information,
visit www.extenway.com.
Disclaimer - Safe Harbour Forward -Looking Statements
Certain statements contained in this press release constitute
forward-looking statements. These forward-looking statements relate
to the future financial conditions, results of operations or
business of the Company. These statements may be current
expectations and estimates about the markets in which Extenway
Solutions Inc. operates and management's beliefs and assumptions
regarding these markets. These statements are subject to important
risks and uncertainties which are difficult to predict and
assumptions which may prove to be inaccurate. The results or events
predicted in forward-looking statements may differ materially from
actual results or events. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise. In particular, forward-looking statements do not reflect
the potential impact of any merger, acquisitions or other business
combinations or divestitures that may be announced or completed
after such statements are made.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Extenway Solutions Inc. Mr. John McAllister President
and CEO 514-694-1916 514-694-4280 (FAX)
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