VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2011) -
THIS NEWS RELEASE IS NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES FOR DISCLOSURE IN THE UNITED STATES
Manuweb Software Systems Inc. (CNSX:AIV) ("Manuweb" or the "Company") is pleased to announce a $1,800,000 best efforts private placement (the "Offering").
The Offering will be conducted on a pre-consolidated basis, by issuing 30,000,000 units at a price of $0.06 per pre-consolidated unit based on the closing price of the Company's shares on December 13, 2011, less a 25% discount. Each unit will consist of one common share of the company and one common share purchase warrant entitling the holder to purchase an additional share for $0.60 per common share for a period of two years from the closing date.
The proceeds of the offering will, in part, be utilized to make the initial payment to Auersoft LLC, due on or before January 31, 2012, and in part for general working capital. Closing of the private placement is expected to take place on or before January 27, 2012.
About Manuweb Software Systems Inc.:
Manuweb Software Systems Inc. is a Vancouver, BC and Scottsdale, Arizona based company engaged in the delivery of unique compliance based software solutions to regulatory compliant markets including health care, securities regulation, and governments. The Company intends to expand and build upon the extensive customer base developed by Auersoft LLC of Mesa, Arizona in this industry both within North America and internationally.
The forward-looking information contained in this press release is made as of the date of this press release and except as required by applicable law, the company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires the company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
Neither the Canadian National Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian National Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Brian Cameron
Chief Financial Officer
602-865-9356
office@cameronandassociates.net