MARKHAM, ON, Feb. 22, 2018 /CNW/ - Sangoma Technologies
Corporation (TSX VENTURE: STC), (the "Company") a trusted
leader in delivering Unified Communications solutions for SMBs,
Enterprises, OEMs, and Service Providers, is pleased to announce
that it has entered into an agreement with a syndicate of
underwriters co-led by Acumen Capital Finance Partners Limited,
INFOR Financial Inc. and PI Financial Corp. (collectively, the
"Co-Lead Underwriters"), pursuant to which the Co-Lead Underwriters
have agreed to purchase, on a "bought deal" private placement
basis, 10,000,000 common shares (the "Common Shares") of the
Company at a price of $1.00 per
Common Share (the "Offering Price") for gross proceeds of
$10.0 million (the "Offering").
The Company has also granted the Underwriters an option,
exercisable up to any time prior to the closing date of the
Offering, to arrange for the purchase of up to an additional
5,000,000 Common Shares at the Offering Price for additional gross
proceeds of $5.0 million. The
net proceeds of the Offering will be used to fund growth
initiatives, improve net cash position and for general corporate
purposes.
The Offering is expected to close on March 15, 2018 and is subject to certain
conditions, including the receipt of TSX Venture Exchange
approval.
The Common Shares will be sold in all of the provinces and
territories of Canada on a private
placement basis pursuant to the "accredited investor" exemption
under National Instrument 45-106 – Prospectus Exemptions and
certain other available and agreed upon exemptions. The
Common Shares will have a hold period of four months and one day
from the closing date of the Offering.
The securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in
any State in which such offer, solicitation or sale would be
unlawful.
About Sangoma Technologies Corporation
Sangoma
Technologies is a trusted leader in delivering Unified
Communications solutions for SMBs, Enterprises, OEMs, Carriers and
service providers. Sangoma's globally, scalable offerings
include both on-premises and cloud-based phone systems, telephony
services and industry leading Voice-Over-IP solutions, which
together provide seamless connectivity between traditional
infrastructure and new technologies. Sangoma's products and
services are used in leading PBX, IVR, contact center, carrier
networks and data-communication applications worldwide.
Businesses can achieve enhanced levels of collaboration,
productivity and ROI with Sangoma. Everything Connects,
Connect with Sangoma!
Founded in 1984, Sangoma Technologies Corporation is publicly
traded on the TSX Venture Exchange (TSX VENURE: STC).
Additional information on Sangoma can be found at:
www.sangoma.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Sangoma Technologies Corporation
