Business
BSM Technologies Inc. Announces Closing of Prospectus Offering of Common Shares
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITE...
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nTORONTO, Feb. 28, 2013 /CNW/ - BSM Technologies Inc. (\"BSM\" or the\n \"Company\") (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, today announced the closing of\n its prospectus offering (the \"Offering\") of common shares (the \"Common\n Shares\"). Pursuant to the Offering, the Company issued 6,160,665 Common\n Shares priced at $1.40 per Common Share (the \"Effective Price\"),\n including 803,565 Common Shares issued pursuant to the exercise of the\n over-allotment option granted to the agents for the Offering, for gross\n proceeds of approximately $8,624,931.\n\n\nThe Offering was conducted through a syndicate of agents led by Paradigm\n Capital Inc. (the \"Lead Agent\"), and including MGI Securities Inc. and\n Loewen, Ondaatje, McCutcheon Ltd. (collectively with the Lead Agent,\n the \"Agents\"), along with PowerOne Capital Markets Limited as a member\n of the selling group with respect to the Offering.\n\n\nThe net proceeds from the Offering are expected to be used by the\n Company for business expansion, research and development, sales and\n marketing, product expansion and general working capital purposes.\n\n\nThe securities being offered have not been, and will not be, registered\n under the United States Securities Act of 1933, as amended (the \"U.S.\n Securities Act\") and may not be offered or sold in the United States or\n to, or for the benefit of, U.S. persons (as defined in Regulation S\n under the U.S. Securities Act) absent U.S. registration or an\n applicable exemption from the U.S. registration requirements. This\n release does not constitute an offer for sale of securities in the\n United States.\n\n\nAbout BSM Technologies (bsmwireless.com)\nBSM Technologies, through its subsidiary BSM Wireless Inc., is a leading\n provider of remote monitoring, fleet tracking, fleet maintenance, and business intelligent engine providing real time, web‐based tracking of mobile and fixed assets. BSM provides solutions for commercial,\n government, and law enforcement organizations who manage and operate\n diverse assets and large fleets, and who seek to enhance customer\n service, improve the safety of their drivers an...