CounterPath Closes Previously Announced Private Placement

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[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 5 /CNW/ - CounterPath Corporation (TSX-V: CCV; OTCBB:\nCPAH), a leading provider of desktop and mobile VoIP software products and\nsolutions, today announced that it has closed the private placement announced\non July 30, 2008. The private placement was completed in two tranches, the\nfirst of which closed on July 31, 2008 and the second of which closed on\nOctober 28, 2008. The Company issued an aggregate of 2,530,841 units at a\nprice of US$1.50 (CDN$1.54) per unit for gross proceeds of US$3,784,439\n(CDN$3,897,497), with each unit consisting of one common share and one-half of\none non-transferable common share purchase warrant. Each whole warrant shall\nentitle the holder thereof to purchase one common share for a period of two\nyears commencing from the respective closing of each tranche of the private\nplacement at an exercise price of US$2.25 per warrant share.\n\n\nThe shares and warrants issued in the private placement were not and will\nnot be registered under the United States Securities Act of 1933 and may not\nbe offered or sold in the United States absent registration or an applicable\nexemption from the registration requirements of United States Securities Act\nof 1933.\n\n\nThe shares, the warrants and the shares issued on the exercise of the\nwarrants are subject to hold periods as follows:\n\n\n Tranche Closing Date End of Hold Period\n 1 July 31, 2008 December 1, 2008\n 2 October 28, 2008 March 1, 2009\n\n\nAbout CounterPath\n\n\nCounterPath Corporation is a leading provider of innovative desktop and\nmobile VoIP software products and solutions. The company's product suite\nincludes SIP-based softphones, server applications and Fixed Mobile\nConvergence (FMC) solutions that enable service providers, enterprises and\nOriginal Equipment Manufacturers (OEM) to cost-effectively integrate voice,\nvideo, presence and Instant Messaging (IM) applications into their VoIP\nofferings and extend functionality across both fixed and mobile networks.\n\n\nCounterPath's customers include some of the world's largest\ntelecommunications service providers and network equipment providers including\nAT&T, Verizon, BT (British Telecommunications PLC), Deutsche Telekom, Cisco\nSystems, Mitel and Nortel.\n\n\nVisit www.counterpath.com.\n\n\nDisclaimer: The TSX Venture Exchange does not accept responsibilit...

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