“EZENET Corp., a leading provider of back-end software and IT
solutions for Canadian financial institutions, today announced that
it has closed its previously announced offering of 4,444,500
Special Warrants. The Special Warrants were issued at a price of
$11.25 per Special Warrant for gross proceeds of $50,000,625. This
financing was completed by a syndicate of investment dealers lead
by Octagon Capital Corporation and included Salman Partners Inc.
and Acumen Capital Finance Partners Inc.”
“The proceeds of this Offering will be used to further
develop the banking software, and front-end wireless and Internet
solutions for banks and financial service companies that complement
EZENET’s existing back-end infrastructure. This includes:
development of enhanced security software, marketing and sales
force expansion into the United States, development of Linux
financial applications and strategic acquisitions related to
these matters. A portion of the funding will also be dedicated to
further expansion of the Product Software Division of the company,
including InstaBase.”