Ottawa, Canada (PRWEB) August 29, 2006 –-
Impatica Inc., an Ottawa-based industry leader in the delivery and viewing of PowerPoint presentations over the Internet and wireless networks, today announced that it successfully completed an equity financing.
On August 29, 2006, the Company completed a private placement to accredited investors whereby it sold 12,100,000 shares of Class A Common stock at $0.25 per share for gross proceeds of approximately $3.025 million before payment of commissions and expenses. As part of the offering, the Company also issued 6,050,000 five-year warrants to purchase common shares at $0.30 per share. The warrant expiry date can be accelerated to 30 days by notice to holders if the Company’s shares trade for 30 days at or above $1.00. The funds from the financing will be used primarily to expand worldwide sales, marketing and distribution and to accelerate development of follow-on products.
On completion of the financing, Michael Doyle, Chairman and CEO of Impatica said, “With several years of successful product development, commercialization and relationship building behind us, Impatica is now positioned with the products, channel partners and resources to capitalize on the rapidly growing global market for application-driven technology on mobile devices.”
Quest Securities Corporation acted as the sole placement agent in connection with the transaction. In consideration for acting as the agent for this transaction, Quest received a commission of $211,750 plus 847,000 two-year broker warrants to purchase broker units at $0.25 per unit. Each broker unit is comprised of one Class A Common share and one five-year warrant to purchase one common share at $0.30, subject to the same acceleration provision described above.
Impatica ShowMate is the first and only device that allows BlackBerry users to project PowerPoint presentations directly from their handhelds, without the need for a laptop computer. A pocket-sized device that weighs less than three ounces, the extremely popular Impatica ShowMate supports full-featured PowerPoint presentations including rich text, images, charts, graphs, animations and slide transition effects. Impatica’s ShowMate is available from distributors and strategic partners around the world and from Impatica directly at http://www.impatica.com.
About Impatica Inc.
Impatica products enable users of Microsoft PowerPoint and Macromedia Director™ to deliver their content plug-in free, to Java-enabled computers, BlackBerrys and other handheld wireless devices, even at cellular and dial-up speeds. Using Impatica ShowMate, PowerPoint presentations can be projected from a wireless handheld, without need for a cumbersome laptop computer. Approximately 3,000 organizations including some 2,500 colleges and universities and hundreds of corporations use Impatica products to communicate more effectively with hundreds of thousands of people every day.
For more information:
(613) 736-9982 ext. 279