TORONTO, Feb. 19 /CNW/ - MedcomSoft Inc. (TSX - MSF) today announced that it has closed a private placement equity financing consisting of the issue of 2,175,492 units for gross proceeds of approximately $1.2 million in cash. Each unit was issued at $0.55 per unit and consisted of one common share and one-third of one common share purchase warrant. Each whole warrant is exercisable at $0.65 per warrant for a period of two years from the closing date. All of the securities issued in connection with these private placements have a four-month hold period from the closing date.
"The funds received from this financing will be used for general corporate purposes in support of MedcomSoft accelerated marketing campaigns in the United States, which have been initiated in early January to coincide with the release of several new products in March and April of the current year", said Nick Clemenzi, MedcomSoft's Vice President of Finance.
MedcomSoft Inc. designs, develops and markets cutting-edge software solutions to the healthcare industry. MedcomSoft has pioneered the use of codified point of care medical terminologies and intelligent pen-based data capture systems to create a new generation of electronic medical records (EMR). As a result of MedcomSoft innovations, physicians and managed care organizations can now securely build and exchange complete, structured and homogeneous electronic patient records. MedcomSoft applications are written with the latest Microsoft tools to run on the Windows platform (Windows 2000 & XP), operate with MS SQL Server 2000(TM), support MS Terminal Server and fully integrate with MS Office 2003, Exchange and Outlook(R). MedcomSoft applications are fully compatible with Tablet PCs and wireless technology.
This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which involve known and unknown risks, uncertainties and other factors, which may cause the actual events or results to differ materially. The reader is referred to the documents that the company files from time to time with applicable Canadian securities and regulatory authorities.
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02-20-2004, 01:14 AM
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