TROIS-RIVIERES, Jan. 3 /CNW Telbec/ - GLOBEECOM INTERNATIONAL INC.
("GlobeeCom" or the "Company") (TSX Venture Exchange: GBC) announces that it
intends to make a private placement of a maximum of 2,502,222 units, at a
price of $0.18 per unit, each unit being composed of one (1) Common Share and
one (1) Warrant; each such Warrant may be converted into one (1) Common Share
of the Company, at a price of $0.18 per share, for a period of two years after
their respective issue.
SociDetDe Innovatech QuDebec et ChaudiGere-Appalaches ("Innovatech"), an
insider of the Company, that currently holds 3,775,030 Common Shares,
convertible debentures of a total amount in principal of $300,000 (such
debentures may be converted into 1,666,667 Common Shares assuming a conversion
price of $0.18), and 1,500,000 Warrants that may be converted into 1,500,000
Common Shares of the Company, has indicated that it will subscribe to $2 in
units for each $1 in units subscribed for by third parties, up to a maximum of
$300,000 in units for Innovatech if a total amount of $150,000 or more is
subscribed for by third parties.
A first closing, for an approximate amount of $300,000 should occur on or
about January 5, 2006, and a second closing, for the balance, on or about
January 27, 2006. These closings are subject to the conditional approval of
the TSX Venture Exchange.
Furthermore, the Board of Directors granted, in accordance with the Share
Purchase Option Plan of the Company, to Evolution Group Inc., of which the
Corporation has retained the services to assist the Company in designing and
implementing its financial communication strategy, options to purchase a total
number of 100,000 Common Shares, at a price of $0.20 per share, for a period
of 5 years, in accordance with the terms and conditions of the Plan. These
options are also subject to the approval of the TSX Venture Exchange.
The number of Common Shares currently outstanding is 17,361,692 Common
Shares. If the current private placement is completed, a number of 2,502,222
Common Shares will be added to the outstanding shares, being a total of
19,863,914 Common Shares, and a number of 2,502,222 Warrants that may be
converted into 2,502,222 Common Shares at a price of $0.18 per share will be
added to those already outstanding. A number of 1,872,284 Common Shares may
also be issued pursuant to outstanding options (including those announced in
this press release). Furthermore, a total number of 3,750,000 Common Shares
may be issued in the event of the conversion of all the other outstanding
warrants and, assuming a conversion price of $0.18 per share, 4 166 667 Common
Shares may be issued in the event of the conversion of all the convertible
debentures.
ABOUT GLOBEECOM INTERNATIONAL INC.
GlobeeCom International Inc. is a company specialized in the development
of on-line software solutions. It has been positioning itself on the market of
converging technologies, bringing together PCs and new generation fixed and
cellular telephony via its GlobeMeeting(R) technology.
Its mission is to market technological solutions with a view to
optimizing company-wide communications logistics over IP networks. Established
on both North American and European markets, GlobeeCom is positioning itself
as a strategic partner and services provider.
Forward-looking statements contained in this Press Release involve known
and unknown risks, uncertainties and other factors that may cause actual
results, performance and achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by the said forward-looking statements.
TSX Venture Exchange Inc. accepts no liability regarding the relevance or
accuracy of this Press Release.
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