Texada Software Inc.
TSX VENTURE : TXS

Texada Software Inc.

June 08, 2007 15:22 ET

Texada Software Inc.: Steven Lamb Announces Exercise of Warrants

TORONTO, ONTARIO--(Marketwire - June 8, 2007) - Texada Software Inc. (TSX VENTURE:TXS) - Pursuant to the completion of a private transaction, Steven Lamb (the "Offeror"), acquired ownership of 425,000 common share purchase warrants (the "Warrants") of Texada Software Inc. (the "Issuer") which, prior to the exercise of the Warrants represented 1.5% of the total number of common share purchase warrants of the Issuer which were outstanding at such time (assuming no other securities convertible into voting shares of the Issuer were converted or exercised).

After giving effect to the transaction, the Offeror exercised the Warrants to acquire 425,000 common shares of the Issuer at an exercise price of $0.10 per common share (the "Exercise") representing 0.82% of the issued and outstanding voting shares of the Issuer (assuming no other securities convertible into voting shares of the Issuer were converted or exercised).

After giving effect to the transaction, but prior to the Exercise, the Offeror directly or beneficially held an aggregate of: (i) 7,682,500 common share purchase warrants representing 27.23% of the total number of common share purchase warrants of the Issuer; (ii) 3,305,000 common shares representing 6.46% of the issued and outstanding voting shares of the Issuer; and (iii) $565,000 principle amount of 8% convertible debentures (assuming no other securities convertible into voting shares of the Issuer were converted or exercised).

After giving effect to the Exercise, the Offeror directly or beneficially holds an aggregate of: (i) 7,257,500 common share purchase warrants representing 26.19% of the total number of common share purchase warrants of the Issuer; (ii) 3,730,000 common shares representing 7.23% of the issued and outstanding voting shares of the Issuer; and (iii) $565,000 principle amount of 8% convertible debentures (assuming no other securities convertible into voting shares of the Issuer were converted or exercised).

The common shares received pursuant to the Exercise are held for investment purposes. These investments may be reviewed on a continuing basis and such holdings may be increased of decreased in the future.

An early warning report in respect of the above noted transactions will be filed on SEDAR. A copy of this report and further information can be obtained from:



Steven Lamb
406 - 111 Peter Street
Toronto ON
M5V 2H1
Canada

Telephone: 1-800-361-1233
Facsimile: (416) 675-7067


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Texada Software Inc.
    Steven Lamb
    1-800-361-1233
    (416) 675-7067 (FAX)