SOURCE: ForceLogix

ForceLogix

April 13, 2010 13:47 ET

ForceLogix Technologies Inc. Announces Closing of Private Placement

CHICAGO, IL--(Marketwire - April 13, 2010) - ForceLogix Technologies Inc. (the "Company") announced today that on April 7, 2010, it closed a private placement (the "Private Placement") of 2,003,800 common shares for gross proceeds of $150,285 with Callidus Software Canada Inc., which shares are subject to a four-month hold period pursuant to Exchange policies and applicable securities laws. Following the Private Placement, the Company has 52,577,683 issued and outstanding common shares and 31,176,992 non-exercised Special Warrants.

About ForceLogix Technologies Inc.
ForceLogix (www.forcelogix.com) (TSX-V: FLT) was created to meet the needs of companies who wish to optimize and increase the effectiveness of their sales force. ForceLogix provides affordable on demand solutions allowing companies to improve their business performance through the use of more effective sales management optimization programs. ForceLogix enables companies to easily and affordably design, implement, manage, audit and communicate sales performance. By providing sales managers with more effective plans and better visibility, these companies can dramatically improve sales performance. ForceLogix provides solutions to thousands of Sales Managers and individual sales people worldwide and growing.

About Callidus Software
Callidus Software (www.callidussoftware.com) (NASDAQ: CALD) is the market and technology leader in Sales Performance Management (SPM). Callidus' customers gain a competitive advantage by maximizing sales cost efficiencies and driving improvements in sales execution. Our award-winning Software-as-a-Service (SaaS) applications set the standard for performance management of a company's sales force and its other employees. Over 2 million employees and channel partners have their performance managed by Callidus Software.

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. The securities offered have not been, and will not be, registered under the securities laws of the United States of American or any state thereof, and may not be offered or sold in the United States of American absent registration or the availability of an exemption from such registration.

For further information please contact Mr. Patrick Stakenas, President and Chief Executive Officer of ForceLogix Technologies Inc. at (847) 281-9307.

Neither the 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.

Contact Information

  • Contact:
    Mr. Patrick Stakenas, President and Chief Executive Officer of ForceLogix Technologies Inc. at (847) 281-9307