TORONTO, April 28 /CNW/ -- ComnetiX(TM) Inc (TSX: CXI), a leading provider of biometric identification and authentication solutions, announced that it closed its brokered private placement financing previously announced on April 22, 2005. Under the financing, ComnetiX(TM) issued 1,901,300 units (each a "Unit") priced at $2.50 per Unit. Each Unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant is exerciseable to acquire a further common share at $3.25 until April 28, 2006. Insiders subscribed for 135,000 Units on the same terms as described above. Wellington West Capital Markets Inc., as lead agent and McFarlane Gordon Inc., and including GMP Securities Ltd, (collectively the "Agents") were paid a commission of $320,915. A further insider subscribed directly with ComnetiX(TM) for 25,000 Units on the same terms as described above. The proceeds of the offering will be used to fund growth, for working capital and for general corporate purposes. About ComnetiX(TM) Inc ComnetiX(TM) Inc provides secure identification and authentication solutions to both the public and private sectors throughout North America. ComnetiX offers multimode biometric identification solutions for use in areas such as applicant screening, financial services, health care, transportation, airlines and airports, casinos and gaming, and energy and utilities. Clients include American Airlines, Lehman Brothers, New York City Health and Hospital Corporation, New York State Division of Criminal Justice Services, Toronto Police Services Board, Boston Police Department and the Royal Canadian Mounted Police. ComnetiX is also Canada's premier applicant fingerprinting services company, facilitating tens of thousands of criminal background checks each year through its chain of ten offices across Canada. In addition, ComnetiX has recently launched its first applicant fingerprinting services office in the U.S., located in Sacramento, California. The securities being offered have not, nor will be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States. Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement in this release containing words such as "believes," "plans," "expects" or "intends" and other statements that are not historical facts are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. For further information Investor Relations: Jesse Deal 1-877-691-8087 (toll-free) investor.relations@ComnetiX.com Tim Zahavich ComnetiX Inc 905-829-9988 ext 206 investor.relations@ComnetiX.com
ComnetiX(TM) Inc Announces Closing of Financing
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Earlier from Currency Exchange International
- ComnetiX(TM) Inc Reaches Agreement on Private Placement Equity Offering
- ComnetiX(TM) Inc Announces Private Placement Equity Offering
Later from Currency Exchange International
- ComnetiX(TM) Inc Expands Scope of Its Agreement With Integrated Biometric Technology for TSA Hazardous Materials Program
- ComnetiX(TM) Inc Receives Additional Orders Associated With New York's Statewide Rollout of Electronic Fingerprinting Systems
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- ComnetiX(TM) Inc Announces Date of Its Fiscal 2005 Third Quarter Results Release and Conference Call
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