Solium Capital Inc.

Solium Capital Inc.

October 25, 2010 08:00 ET

Solium Capital Inc. Announces Private Placement Financing

CALGARY, ALBERTA--(Marketwire - Oct. 25, 2010) -


Solium Capital Inc. ("Solium") (TSX:SUM), a leading provider of equity-based incentive and savings plans administration services, is pleased to announce that, subject to obtaining approval from the Toronto Stock Exchange, it intends to complete a non-brokered private placement to certain insiders of up to 2,436,485 common shares at a price of $1.50 per share for gross aggregate proceeds of up to $3,654,727.50. Closing is expected to occur on or about November 12, 2010. The common shares will be subject to a four month hold period from the date of closing.

The net proceeds from the financing will be used for general corporate purposes and for investing in growth opportunities.

In conjunction with the private placement, Solium has agreed to provide a loan to one of its Managing Directors to enable such individual to participate in the private placement. The loan will be in the principal amount of $300,000, will have a term of five years and will be secured against all of the Managing Director's currently held and after-acquired common shares of Solium. The rate of interest payable will depend on the market value of the collateral relative to the value of the unpaid portion of the principal amount of the loan.

About Solium Capital Inc.

Solium Capital Inc. (TSX:SUM) specializes in the administration and execution of equity-based incentive and savings plans and is setting the industry standard for service excellence, industry knowledge and innovative technical leadership. Solium's technology platform, Shareworks, is a leading online solution that integrates the management of multiple equity plan types including stock options, share units, and employee share purchase plans on one comprehensive platform.

Forward-Looking Statements Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "may", "will", "should", "believe", and similar expressions are intended to identify forward-looking information or statements. Forward-looking statements in this press release include, but are not limited to, statements concerning the anticipated timing for completion of the private placement and the anticipated use of net proceeds. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things, the timing of receipt of regulatory approvals and general economic and business conditions. Although Solium believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Solium can give no assurance that such expectations will prove to be correct. The forward-looking statements are based on Solium's current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, among others, the inability to secure necessary regulatory approvals in the time assumed, general business and economic conditions as well as competitive conditions. The foregoing is not exhaustive and other risks are detailed from time to time in other continuous disclosure filings of Solium. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. These forward-looking statements are made as of the date of this press release.

Contact Information

  • Media Contacts:
    Solium Capital Inc.
    Jeff English
    Chief Executive Officer and Managing Director
    (403) 450-6002 / (877) 380-7793
    Solium Capital Inc.
    Lynn Leong
    Executive VP, Finance & Administration
    (403) 450-6015 / (877) 380-7793