Cyberplex (ticker: CX, exchange: Toronto Stock Exchange) News Release - 29 - June - 2006
CYBERPLEX ANNOUNCES COMPLETION OF $3.25 MILLION PRIVATE PLACEMENT
TORONTO, June 29, 2006 - Cyberplex Inc. (TSX: CX) (the "Company" or "Cyberplex"), a North American technology consulting firm, announced today that, further to its earlier press release of June 22, 2006, it has completed a private placement raising gross proceeds of $3,250,000. The Company issued 8,125,000 units (“Units”), at $0.40 per Unit. Each Unit is comprised of one common share and one-half warrant, with each whole warrant (“Warrants”) entitling the holder to acquire one additional common share at the price of $0.60 for a period ending December 29, 2007.
The lead subscription came from an arm’s length subscriber, Robert R. McEwen, who subscribed for $3,000,000 representing 7,500,000 Units (7,500,000 common shares and 3,750,000 Warrants). The balance of the private placement, $250,000 representing 625,000 Units, was subscribed for by directors of the Company.
This news release may contain certain forward-looking statements that reflect the current views and/or expectations of Cyberplex Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
CYBERPLEX ANNOUNCES COMPLETION OF $3.25 MILLION PRIVATE PLACEMENT
TORONTO, June 29, 2006 - Cyberplex Inc. (TSX: CX) (the "Company" or "Cyberplex"), a North American technology consulting firm, announced today that, further to its earlier press release of June 22, 2006, it has completed a private placement raising gross proceeds of $3,250,000. The Company issued 8,125,000 units (“Units”), at $0.40 per Unit. Each Unit is comprised of one common share and one-half warrant, with each whole warrant (“Warrants”) entitling the holder to acquire one additional common share at the price of $0.60 for a period ending December 29, 2007.
The lead subscription came from an arm’s length subscriber, Robert R. McEwen, who subscribed for $3,000,000 representing 7,500,000 Units (7,500,000 common shares and 3,750,000 Warrants). The balance of the private placement, $250,000 representing 625,000 Units, was subscribed for by directors of the Company.
GMP Securities L.P. acted as financial advisor to the Company.
About Cyberplex
Cyberplex Inc. (www.cyberplex.com) is a technology consulting firm focused on application expertise. The Company's specialized team of management and technology consultants assist clients with all aspects of their applications as they enhance, automate and manage technology solutions that improve business processes.
This news release may contain certain forward-looking statements that reflect the current views and/or expectations of Cyberplex Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
For more information contact:
Geoffrey Rotstein, Chief Executive Officer
Cyberplex Inc.
(416) 597-8889
© Cyberplex Inc. 2007