IFU iFuture.com shares privately placed with RAB
2005-03-09 14:29 ET - News Release
Mr. Neil Warrender reports
RAB Special Situations has subscribed for a total of 1.25 million shares of iFuture.com Inc. at a price of 60 cents per unit. Each unit consists of one common share in the capital of the company and one-half share purchase warrant. Each whole warrant entitles RAB Special Situations to acquire one additional share of the company at a price of 75 cents per warrant share for a period of 12 months from the closing. The transaction took place off the market by way of private placement and closed on Feb. 25, 2005.
Special Situations has ownership of and control over the securities purchased in the private placement. The purchased securities represent approximately 10.57 per cent of the issued and outstanding shares on a partially diluted basis (assuming exercise of the warrants).
Immediately after the private placement, Special Situations owned 1.25 million shares and 625,000 warrants, representing approximately 10.57 per cent of the issued and outstanding shares on a partially diluted basis.
Special Situations purchased securities for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. However, Special Situations and its joint actors, if any, do not intend to acquire 20 per cent or more of any class of the outstanding voting or equity securities of the company.
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