CSM Systems Corp.
TSX VENTURE : CKX

CSM Systems Corp.

November 07, 2006 18:54 ET

CSM Systems Corp. Announces $2,000,000 SFOD Financing

EDMONTON, ALBERTA--(CCNMatthews - Nov. 7, 2006) - CSM Systems Corp. ("CSM") (TSX VENTURE:CKX) is pleased to announce that it intends to conduct an offering of up to 3,703,704 units of CSM (each a "Unit") at a price of $0.54 per Unit for aggregate gross proceeds of up to $2,000,000 (the "Offering"). Each Unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant is exercisable into one common share at a price of $0.60 per common share for a period of 24 months from the issuance of the warrants. The Offering is expected to close by December 7, 2006.

The Offering will be completed by way of a short form offering document in accordance with Policy 4.6, "Public Offering by Short Form Offering Document", of the TSX Venture Exchange (the "TSX Venture"). CSM has engaged Northern Securities Inc. ("Northern") to act as its agent, on a best efforts basis, in conducting the Offering. Northern will be paid a cash commission equal to 10% of the gross proceeds of the Offering and will receive an agent's option to purchase Units in an amount equal to 10% of the Units sold under the Offering, such agent's option being exercisable at a price of $0.54 per Unit for a period of 24 months from the closing date.

The net proceeds from the Offering will be used for the marketing and development of ViCCi™, CSM's proprietary virtual customer care interface, and for general corporate purposes.

The completion of the Offering is subject to TSX Venture approval and any other applicable regulatory approval.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offered securities mentioned in this press release will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

This new release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

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

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