Lecere Corporation to Raise Over $7 Million in Private Placement
ROCHESTER, Minn., March 30, 2009 -- LECERE CORPORATION (Pink Sheets: LCRE), a Software as a Service (SaaS) provider of integrated resource management software for the hospitality industry is pleased to announce that it will proceed to raise $7,050,000 by way of a non-brokered private placement of up to 47 million common shares of the company at $0.15 per common share.
Lecere has received indications from potential investors that it will satisfy the placement. The proceeds of the placement will be used to fund business and market development activities, the expansion of Lecere's SaaS offerings, as well as for general corporate purposes.
"The acquisition of this capital will accelerate our software as a service deployment at key customers," said Lecere's chairman and CEO, Jim Morris. "We also look forward to further developing our next generation services that enable greater competitive advantage for our customers in this challenging economy," he added.