DATA Communications Management Corp. Announces C$25,000,000 Marketed Private Placement Offering
02 Mai 2023 - 10:04PM
DATA Communications Management Corp. (TSX: DCM; OTCQX: DCMDF)
(“
DCM” or the “
Company”) is
pleased to announce that it has entered into an agreement with
Clarus Securities Inc. as lead agent on behalf of a syndicate of
agents (collectively, the “
Agents”), whereby the
Agents will raise up to C$25,000,000 (the
“
Offering”) through a “best efforts” private
placement of up to 8,333,333 common shares of the Company (the
“
Common Shares”) to be priced at
C$3.00 per Common Share. The Agents shall have an option (the
“
Agents’ Option”), exercisable in
whole or in part, until 48 hours prior to the Closing Date to offer
and sell up to an additional 1,666,666 Shares, on the same terms
and conditions as the Offering.
The Company intends to use the net proceeds of
the Offering for general corporate and working capital
purposes.
The Offering is expected to close on or about
May 25, 2023 and is subject to certain conditions including, but
not limited to, the receipt of all necessary approvals of the
Toronto Stock Exchange. The securities to be issued under this
Offering will be offered by way of private placement exemptions in
all the provinces of Canada.
The securities referred to in this news release
have not been, nor will they 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 the U.S. registration requirements. This release does not
constitute an offer for sale of, nor a solicitation for offers to
buy, any securities in the United States. Any public offering of
securities in the United States must be made by means of a
prospectus containing detailed information about the issuer and its
management, as well as financial statements.
About DATA Communications Management
Corp.DCM is a marketing and business communications
partner that helps companies simplify the complex ways they
communicate and operate, so they can accomplish more with fewer
steps and less effort. For over 60 years, DCM has been serving
major brands in vertical markets including financial services,
retail, healthcare, energy, other regulated industries, and the
public sector. We integrate seamlessly into our clients’ businesses
thanks to our deep understanding of their needs, transformative
tech-enabled solutions, and end-to-end service offering. Whether
we’re running technology platforms, sending marketing messages, or
managing print workflows, our goal is to make everything
surprisingly simple.
Additional information relating to DATA
Communications Management Corp. is available on www.datacm.com, and
in the disclosure documents filed by DATA Communications Management
Corp. on the System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com.
For further information, please contact:
Mr. Richard Kellam
President & Chief Executive Officer
DATA Communications Management Corp.
Tel: (905) 791-3151
Mr. James E. Lorimer
Chief Financial Officer
DATA Communications Management Corp.
Tel: (905) 791-3151
ir@datacm.com
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