Alphinat Inc.

TSX VENTURE : NPA


Alphinat Inc.

May 20, 2014 09:51 ET

Alphinat Announces Private Placement

MONTREAL, QUEBEC--(Marketwired - May 20, 2014) -

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Alphinat Inc. ("Alphinat") (TSX VENTURE:NPA), a leader in innovative Software for the Smart Enterprise™, announces that it is proceeding to non-brokered private placement, maximum of $3,000,000, consisting of Class A Units, each comprising a Class A Debenture accompanied by one Bonus Common Share per dollar of Class A Debenture subscribed and Class B Units, each consisting of Class B Debentures accompanied by one Bonus Common Share per dollar of Class B Debenture subscribed. The 2nd tranche of a private placement was completed after markets closed Friday May 16th 2014 of $150,000.00 units in Series A 10% unsecured debenture of the previously announced financing August 6th 2013 and a planned 3rd and final tranche closing on or about June 12, 2014. Units comprise of a 10% unsecured debenture maturing September 30, 2017 and a bonus share for every $1.00 of unit purchased.

The Class A Debentures bear interest at 10% annually with interest payable quarterly and mature on September 30, 2017. They are redeemable by the Corporation on or after September 30, 2015. They are being offered at their face value. The Class A Debentures are convertible at their principal amount into the next equity issue of the Corporation. This transaction was a non-brokered private placement that saw one insider participated in the amount of $100,000.00 of this private placement, which brings $150,000.00 of new investment into Alphinat Inc.

The Corporation has sought, and continues to seek, investors for this placement. The Corporation is pleased to announce that the Corporation has secured indicated commitments for additional funds for the 3rd and final transaction expected to close on or about June 12th 2014 of $220,000.00 in additional units of which insiders are expected to participate for $220,000.00 with one insider expected to convert prior advances to Alphinat Inc. of $40,000.00 into the class A 10% unsecured debentures. This individual has not received any prior equity compensation for these advances.

Alphinat has continued to make strong headway into partnerships for enterprise license sales, OEM agreements as well as for launching SaaS services. The financing is to help accelerate direct sales and the uptake in sales with partners, with a growing number of installed clients in various geographies and industry sectors.

Additional information on Alphinat Inc can be found on SEDAR, at www.sedar.com.

About Alphinat

Software for the Smart Enterprise™ providing agility to leverage existing IT assets and lower costs for a one-stop delivery tool of Web and mobile enterprise applications from any back-end system.

Alphinat has been appointed by technology company peers to associate member at the Smart Cities Council (www.smartcitiescouncil.com).

Alphinat technology could also be used in the healthcare, banking, insurance, telecommunications and other sectors, in modernising, automating and rendering cost-effective a number of business processes at a fraction of the cost associated with conventional customized solutions. For more details about Alphinat or its software suite, please visit www.alphinat.com.

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company's ability to find subscribers in connection with the proposed debenture financing. This is only one of the factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.

Neither 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

  • Mr. Philippe Lecoq
    Chief Executive Officer
    Alphinat Inc.
    (514) 398-9799 ext 222