Logibec Groupe Informatique Ltd.
TSX : LGI

Logibec Groupe Informatique Ltd.

November 23, 2007 17:15 ET

Logibec Announces Bought Deal Financing

MONTREAL, QUEBEC--(Marketwire - Nov. 23, 2007) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Logibec Groupe Informatique Ltd. (TSX:LGI) (the "Company") announces an agreement with Acumen Capital Finance Partners Limited to raise $22,522,500 on a bought deal basis consisting of a private placement of 1,155,000 common shares of the Company (the "Share") at a price of $19.50 per Share (the "Offering").

Acumen has also been granted an option to increase prior to closing the size of the Offering by up to an additional 100,000 Shares for additional gross proceeds to the Company of $1,950,000 (the "Underwriter's Option").

Closing of the Offering is expected to occur on or about December 11, 2007 and is subject to regulatory approvals. The net proceeds of the Offering will be used to reduce the Company's bank indebtedness incurred in connection with the recent acquisition of Achieve Healthcare Technologies and to support the Company's growth strategy in the United States.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any U.S. State in which such offer, solicitation or sale would be unlawful.

ABOUT LOGIBEC

Logibec is among the ten largest Canadian companies specializing in the development, marketing, implementation and support of information systems for the health and social services sector. Logibec serves over 200 clients throughout Quebec and the rest of Canada. Through its wholly-owned subsidiary MDI Technologies, Inc., Logibec also serves approximately 6,000 senior living communities and long-term care facilities throughout the United States. These services are delivered by an experienced team of some 390 employees. The Company has its head office in Montreal as well as offices in Quebec City, Edmonton, St. Louis, Minneapolis, Tampa and Smithfield (VA).

This news release contains forward-looking statements reflecting Logibec Groupe Informatique Ltd. objectives, estimates and expectations. Such statements may be marked by the use of verbs such as "believe", "anticipate", "estimate" and "expect" as well as the use of the future or conditional tense. By their very nature, such statements involve risks and uncertainty. Actual results may differ significantly from the Company's forecasts or expectations.

Contact Information

  • LOGIBEC GROUPE INFORMATIQUE LTD.
    Claude Roy
    President and Chief Executive Officer
    514-766-0134
    or
    LOGIBEC GROUPE INFORMATIQUE LTD.
    Marc P. Brunet
    Chief Financial Officer
    514-762-3833