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Decision Dynamics Announces Intention to Raise up to $3 Million
2007-06-01
Calgary AB - 2007-06-01 - Decision Dynamics Technology Ltd. (Decision Dynamics; TSX-V: DDY), a provider of operations management software to the energy industry, today announced that the Company intends to raise up to $3 Million CDN by way of private placement.
The private placement will be done in two parts, a Brokered and a Non-Brokered Placement. The Brokered Placement will be led by Canaccord Adams ("Canaccord") acting as agent for the Company. Participants in the Non-Brokered Placement are expected to include Mosaic Venture Partners and Edgestone Capital Venture Fund, major investors in Decision Dynamics, and several of the Directors and Senior Management of the Company. The private placement remains subject to the execution of an agency agreement with Canaccord, TSX Venture Exchange approval and other usual conditions.
The Company will offer one unit consisting of one common share plus one-half warrant to purchase one common share for $0.30 per unit. One warrant entitles the holder to purchase one common share during the next twelve months for $0.40 per common share.
Canaccord will be entitled to a commission of 8% on funds they have raised in their capacity as agent ("Canaccord Offering"), a fee equal to 25,000 common shares plus Agents warrants exercisable anytime over the next eighteen months entitling Canaccord to purchase one common share at $0.30 per share. Canaccord will receive warrants to purchase a number of common shares equal to 8% of the common shares issued pursuant to the Canaccord Offering.
"The Company's performance has improved significantly over the last six months." said Justin Zinke, Decision Dynamics Chief Executive Officer, "These funds will allow us to accelerate our revenue growth by expanding our sales force, increasing our marketing presence, and continuing to improve our product value."
Additional information regarding the Company is available on SEDAR at www.sedar.com.
For more information: DDY_NR_01_June07.pdf
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