Texada Software Inc.
TSX VENTURE : TXS

Texada Software Inc.

August 05, 2005 16:15 ET

Texada Software Announces $600,000 In Additional Financing

TORONTO, ONTARIO--(CCNMatthews - Aug. 5, 2005) - Texada Software Inc. ("Texada") (TSX VENTURE:TXS) announced today it has received a funding commitment from new investors, existing shareholders, directors and senior management for a private placement of units (the "Units") which will result in gross proceeds of up to $600,000. The company intends to use the net proceeds of the financing to develop a new version of its software. The financing is expected to close within 30 days, and is subject to regulatory approvals, satisfactory due diligence by the purchasers of the Units and the completion of documentation acceptable to Texada and the purchasers.

Each Unit consists of $1,000 principal amount 8% senior secured convertible debentures (the "Debentures") and 10,000 warrants (the "Warrants"). The Debentures will mature on June 30, 2007 (the "Maturity Date") and are convertible at the holder's option into common shares (the "Common Shares") of Texada at any time prior to the Maturity Date at a conversion price of $0.10 per Common Share. Each Warrant entitles the holder to acquire one Common Share at any time up to the Maturity Date at an exercise price of $0.11 per Common Share.

About Texada Software Inc.

Texada provides complete Enterprise Asset Management Software primarily to the Equipment rental industry. Over 400 customers worldwide, including Volvo Rents and Stephenson's Rental Centers use Texada software to manage almost all aspects of their equipment rental business. For more information, visit www.texadasoftware.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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