Rand A Technology Corporation
TSX : RND

Rand A Technology Corporation

September 08, 2005 12:17 ET

RAND Worldwide'R' Raises $8.25 Million Through Private Placement Equity Financing

MISSISSAUGA, ONTARIO--(CCNMatthews - Sept. 8, 2005) - RAND A Technology Corporation (TSX:RND), operating as RAND Worldwide® ("RAND" or the "Company"), today announced that it has completed its previously announced private placement of 3,000,000 common shares at $2.75 per share, raising gross proceeds of $8.25 million.

"We are very pleased to have completed this transaction, which was well received by the market and was completed in a short period of time," said Frank Baldesarra, President and CEO of Rand Worldwide. "In addition to providing capital that will help support our organic and acquisitive growth initiatives, this transaction involved a broad syndicate of investment dealers and will help increase the liquidity of our shares while expanding our base of institutional shareholders."

The private placement was completed through an agency syndicate led by Paradigm Capital Inc. and including Clarus Securities Inc., Loewen Ondaatje McCutcheon Limited and CIBC World Markets Inc.

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 application 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 State in which such offer, solicitation or sale would be unlawful.

About RAND Worldwide

RAND Worldwide is one of the world's leading providers of professional services and technology to the engineering community and companies looking to improve their competitiveness, productivity and profitability by enhancing key aspects of their Product Lifecycle Management (PLM) and Architecture, Engineering and Construction (AEC) capabilities, including planning, development, and management. As a leading technology independent systems integrator in the world, RAND Worldwide employs 381 people in over 70 sales and client service centers around the world. The Company's corporate head office in Mississauga, Ontario, Canada can be reached at 905-625-2000.

FORWARD-LOOKING STATEMENTS

This news release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this news release. Actual results could differ materially from those anticipated in these statements, due to risks and uncertainties which affect the Company's business and operations. Reference should be made to the Company's Annual Information Form and other continuous disclosure documents filed from time to time with Canadian securities regulatory authorities, for a detailed description of such risks and uncertainties. RAND Worldwide undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.

Contact Information

  • RAND Worldwide
    Kriss Bush
    Chief Financial Officer
    (905) 625-2000
    (905) 625-8535 (FAX)
    or
    The Equicom Group Inc.
    Dave Mason
    Investor Relations
    (416) 815-0700 ext. 237