Logibec Groupe Informatique Ltd.
TSX : LGI

Logibec Groupe Informatique Ltd.

December 11, 2007 09:22 ET

Logibec Completes its C$23.4 Million Private Placement Financing of Common Shares

MONTREAL, QUEBEC--(Marketwire - Dec. 11, 2007) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Logibec Groupe Informatique Ltd. (TSX:LGI) (the "Company") is pleased to announce that it has completed the previously-announced "bought deal" private placement of 1,155,000 common shares of the Company (the "Shares") at a price of C$19.50 per Share for gross proceeds of C$22,522,500 (the "Offering"). The size of the Offering was increased from C$22,522,500 to C$23,491,650 following the exercise by the Underwriters of an option to acquire an additional 49,700 Shares on the same terms and conditions.

The Offering was lead by Acumen Capital Finance Partners Limited and included National Bank Financial Inc. The Shares are subject to a hold period expiring on April 12, 2008 in accordance with applicable securities legislation.

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 L.P. and to support the Company's growth strategy in the United States. Following the completion of the Offering, there are 9,930,824 Shares issued and outstanding.

The Shares 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 Shares 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, Smithfield, Tampa, St. Louis and Minneapolis.

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
    www.logibec.com