MONTREAL–(BUSINESS WIRE)–Intema Solutions Inc. (“Intema” or the “Corporation”) (TSXH: ITM) announces today that it is currently still in the process of preparing a brokered private placement of up to 30,000,000 special warrants at a price of $0.025 per special warrant for gross proceeds of up to $750,000 (the “Private Placement”), as previously announced on September 26, 2018. The Corporation is still in the process of coordinating the subscriptions.
Each special warrant will be convertible into one unit (the “Units”) upon the consolidation of the share capital of the Corporation on a two for one basis (the “Consolidation”). Each unit is made of one common share and one common share purchase warrant. Each whole warrant will entitle its holder to subscribe for one common share during a period of one year, at a price of $0.05 the first year after the date of closing of the Private Placement. The securities issued under the Private Placement will be subject to a four-month hold period from the date of closing.
The closing of the Private Placement is subject to, among other things, the Consolidation and the receipt of the final acceptance from the TSX Venture Exchange. It is not expected that any creditor of the company will participate in the financing. Should the Consolidation not happen, each special warrant will be converted into one unit at a price of 0.05$ per unit.
The net proceeds of the Private Placement will enable Intema to substantially advance the marketing of its Emai Marketing Engine, eFkyerMaker.com, a new technology platform that addresses the specific needs of marketing.
About Intema Solutions Inc.
Intema Solutions Inc.’s mission is to integrate technologies to marketing. The company develops technologies for marketing and services related thereto. Its services are predictive marketing, relationship marketing and database marketing. Since 1994, INTEMA has dedicated its efforts to deliver key solutions to the marketing industry. Amongst its clients are companies of all sizes in North America. For more information, please visit our website at www.intema.ca
Caution concerning forward-looking statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Such statements include those with respect to the Corporation’s ability to raise funds under the Private Placement and the Corporation’s new platform. Although the Corporation believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) the Corporation will be successful in its efforts to identify subscribers under the Private Placement, (ii) the subscribers under the Private Placement will complete the subscriptions they have agreed to make under their subscription agreements, (iii) Intema’s management will not identify and pursue other business objectives using the proceeds of the Private Placement and (iv) no technological, financial or other obstacles will prevent the Corporation from introducing its new platform in a timely manner or altogether. Factors that could cause actual results to differ materially from expectations include (i) the inability or unwillingness of the subscribers under the Private Placement to fulfil their contractual obligations, in whole or in part, (ii) the Corporation’s failure to make effective use of the proceeds of the Private Placement, (iii) the Corporation’s inability to obtain the necessary regulatory approvals for the Private Placement, (iv) the failure of the Corporation’s technology platform for technical or other reasons, (v) a deterioration in capital market conditions that prevents the Corporation from raising the funds it requires on a timely basis and (vi) generally, the Corporation’s inability to develop and implement a successful business plan for any reason. These factors and others are more fully discussed in the Corporation’s filings with Canadian securities regulatory authorities available at www.sedar.com. Actual results may vary from the forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined on policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Roger Plourde – 514-861-1881 [email protected]