DataJungle Software Completes the Sale of Convertible Debentures Having a Total Principal Amount of $4.070 Million in a Private Placement
Oct 2, 2007 8:02:00 AM
OTTAWA, CANADA--(Marketwire - Oct. 2, 2007) - DataJungle Software (OTCBB:DJSW), ("DataJungle") a provider of next generation "on-demand", self-service business intelligence software, today announced that it sold in a private placement to accredited investors Debentures, due September 28, 2009, having an aggregate principal balance of $4,070,000 for $3,500,000 (before deducting expenses and fees related to the private placement). The Debentures are secured by the assets of the company and are convertible into shares of the Company's common stock at a price of $0.15 per share subject to adjustment as provided in the Debentures. As part of the private placement, the Company also issued the investors Warrants to purchase up to 20,350,000 shares of the Company's common stock at a price of $ 0.28 per share subject to adjustment in certain circumstances detailed in the warrants DataJungle's new management team intends to use the net proceeds of the private offering to accelerate product development along with increased investment in sales and marketing of its new on-demand business intelligence software as detailed in the Company's press release on September 11, 2007.
"With this financing closed, we now have a stronger balance sheet and are positioned to execute on our business plan," said David Morris, chief executive officer of DataJungle.
The securities sold by the Company in the private placement were not registered under the Securities Act of 1933, as amended (the "Securities Act"), and were sold in reliance upon exemptions from the registration requirements of the Securities Act pursuant to Regulation D promulgated under the Securities Act. Therefore, such securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and any applicable state securities laws. This press release does not constitute an offer to purchase any securities or a solicitation of an offer to sell any securities.
About DataJungle Software Inc.
DataJungle has delivered a new 'On-Demand' business intelligence solution for small to medium size business and large corporations with BI platforms including Cognos and Microsoft. Its flagship product, Matrix On-Demand, has been specifically designed to provide maximum flexibility and independence from specialized report authors and programmers. Matrix brings together, in one integrated product, all the key BI capabilities required by the broadest range of end users in an organization -- including: dashboards, analysis, Web reports, annotation, collaboration, location intelligence, scorecards, and wireless alerts. For more information visit www.datajungle.com or call 1-800-311-4339.
Safe Harbor Statement
This release may contain forward-looking statements. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results to differ materially from those in the forward-looking statements. Readers should not place undue reliance on any such forward-looking statements that are based solely on information known as of the date of this release. DataJungle disclaims any obligation to update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
DataJungle Software Inc.
Larry Bruce
613-254-7246 ext.110
info@datajungle.com
Source: DataJungle Software Inc.
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DataJungle Software Inc.
Larry Bruce
613-254-7246 ext.110
info@datajungle.com
