Business
IP Applications Corp. Receives Final Acceptance
VANCOUVER, Nov. 7 /CNW/ - IP Applications Corporation (TSX-V: IPX) (the "Company") is pleased to ...
About this update from Santa Rosa Resources Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Nov. 7 /CNW/ - IP Applications Corporation (TSX-V: IPX) (the\n"Company") is pleased to announce that, further to the Company's news release\nof October 19, 2007, it has received final acceptance from the TSX Venture\nExchange and formally closed its non-brokered private placement of 8,804,214\ncommon shares, at a price of $0.14 per share, raising gross proceeds of\n$1,232,590.\n\n\nIn connection with the private placement, the Company has also issued\n7,762,400 common shares in satisfaction of secured debt owing to Pender\nFinancial Group Corporation and Pender Growth Fund (VCC) Inc. (together, the\n"Pender Group") in the total amount of $1,086,736. As part of the debt\nsettlement, the Pender Group has surrendered all of the 1,350,000 common share\npurchase warrants previously issued which remained outstanding.\n\n\nAll securities issued are subject to a four-month hold period expiring on\nMarch 7, 2008.\n\n\nAbout IP Applications\n\n\nThe Company delivers business process automation and customer care for\ncompanies in the rapidly expanding Software-as-a-Service ("SaaS") market. IP\nApplications' customers use the Company's data center and staff to run\nparticular segments of their business operations. While customers are left to\nfocus on their product marketing and technology, IP Applications solves the\nend user satisfaction and subscriber management issues for them.\n\n\nForward-Looking Statements\n\n\nThis press release may contain forward-looking statements. Actual events\nor results may differ materially from those described in the forward-looking\nstatements due to a number of risks and uncertainties. Forward-looking\nstatements are based on management's estimates, beliefs, and opinions. The\nCompany assumes no obligation to update forward-looking statements.\n\n\nThe Exchange does not accept responsibility for the adequacy or accuracy\n\n\nof this release.\n\n\n","length":2007,"tagName":"div"}]