Texada Announces $4,500,000 Private Placement
May 16, 2012
GUELPH, ONTARIO—(Marketwire – May 16, 2012) – Texada Software Inc. (TSX VENTURE:TXS) (“Texada” or the “Company”), announced today a non-brokered private placement (the “Private Placement”) of up to 22,500,000 common shares of the Company (the “Common Shares”) at a price of $.20 CDN per share for anticipated gross proceeds of up to $4.5 Ml. The Company intends to use the net proceeds of the Private Placement for working capital and equipment and other asset purchases. Insiders of the Company will be subscribing for greater than 25% of the Private Placement, on the same terms as arm’s length investors.
The Private Placement is expected to close on or about June 15, 2012 and may close within 21 days of such date, if management of the Company determines it is reasonable or necessary in the circumstances. The Private Placement is subject to receipt of all required regulatory and TSX Venture Exchange (TSX-V) approvals.
The Common Shares issued in connection with the Private Placement, will be subject to a hold period of four months and one day from the date of distribution under applicable securities laws.
About Texada Software Inc. (TSX VENTURE:TXS)
Texada Software Inc., following the launch of its LiuGong dealership announced on May 15, 2012, operates in three complementary businesses, equipment rental, equipment dealership and enterprise asset management software.
The Company, through its wholly owned U.S. subsidiaries, is expanding its presence in the construction and industrial equipment industry and conducts business as Noble Rents, Inc. in Southern California and Noble Equipment, Inc. in Houston, Texas. Noble Equipment, Inc. is the exclusive distributor of LiuGong Construction Machinery equipment in Southeast Texas.
The Company’s enterprise software business, Texada Software, is the premier provider of equipment asset management software solutions for equipment rental, dealership and construction companies globally. Texada’s solutions are available both in-the-cloud or client-based, are scalable to meet the unique needs of any sized operation and are backed by proven implementation, services and support. Texada’s market-driven software products combine knowledge and best practices from over 5,000 users worldwide.
Texada can be reached at 1-800-361-1233 or 1-519-836-7073, or at www.texadasoftware.com.
This news release may contain forward-looking statements which reflect the Company’s current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan, “estimate”, “expect”, “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. Texada’s ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.