CYBERPLEX INC.
TSX : CX

CYBERPLEX INC.

February 21, 2008 16:00 ET

Cyberplex Inc. Announces Closing of Private Placement

TORONTO, ONTARIO--(Marketwire - Feb. 21, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Cyberplex Inc. (TSX:CX) a leading technology firm focused on providing web advertising solutions and on-line customer acquisition strategies, today announced the successful closing of its previously announced private placement (the "Private Placement"). The Private Placement was fully subscribed, resulting in the issuance of 8,333,334 common shares of the Corporation (the "Shares") at a price of $0.60 per Share for gross proceeds of $5,000,000. The proceeds of the Private Placement will be used by the Corporation for general corporate purposes.

The Private Placement was undertaken by a syndicate of agents co-led by Paradigm Capital Inc. and GMP Securities L.P., and including Jones, Gable & Company Limited, M Partners Inc. and Thomas Weisel Partners Canada Inc. (collectively, the "Agents"). For consideration of the Agents' services, the Agents received a cash commission of 6% of the gross proceeds raised and compensation options to purchase an aggregate of 333,333 common shares of the Corporation (the "Compensation Shares") (equal to 4% of the aggregate number of Shares issued pursuant to the Private Placement), each compensation option exercisable to purchase one Compensation Share at a price of $0.65 per Compensation Share at any time on or before August 21, 2009.

The Shares and Compensation Shares will be subject to a four month hold period following closing of the Private Placement, expiring June 22, 2008.

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 securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Cyberplex

Cyberplex Inc. (www.cyberplex.com) is a leader in providing web advertising solutions and on-line customer acquisition strategies, as well as application expertise, to its clients.

The Company, through its subsidiaries, has developed a proprietary affiliate network which combined with advertising relationships and teams of technology consultants and design, usability and solutions specialists, assist customers with all aspects of their web-based programs as they design, develop and promote solutions that deliver results.

With over 12 years of experience serving Fortune 1000 clients including Thomson, Atlantic Lottery Corporation, Xerox, Advanced Micro Devices (AMD), and the Royal Bank of Canada, Cyberplex is frequently the firm of choice for business leaders looking for reliable solutions. Cyberplex serves clients across Canada and the US, and is headquartered in Toronto, Canada with offices in San Diego, Austin and Halifax.

Forward-Looking Statements

This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Cyberplex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

Contact Information

  • Cyberplex
    Isaac Osiel
    Chief Financial Officer
    (416) 597-8889
    or
    Cyberplex
    Susie Ibbotson
    Media Relations
    (416) 260-4763 or 1-888-597-8889, ext. 4763
    susie.ibbotson@cyberplex.com