Nstein Technologies Inc. plans $5 million private placement
2005-10-13
Private placement would be additional to the $4.1 million financing announced yesterday; it would also be subject to complete and satisfactory due diligence, appropriate authorizations from the concerned parties and regulatory approval.
Montreal, Quebec, October 13, 2005 - Nstein Technologies Inc. "Nstein" (TSX-V: EIN), a leader in advanced linguistic-based Business Intelligence solutions, announced today that it is considering a private placement of $5 million and is proceeding to a price reservation at conditions described here below. This private placement is additional to the completed $4.1 million investment announced yesterday. This financing is subject to the completion of a total and satisfactory due diligence, the other usual closing conditions, the obtaining of proper authorizations from the concerned parties and regulatory approval. The considered $5 million investment would be subscribed in common shares at a price of $0.14 per share. Warrants would also be issued, allowing for the purchasing of up to 14.3 million common shares at an exercise price of $0.18 per share. The warrants would be valid for a five-year (5) period. Upon the conditions described here above, a current insider of the Company could participate to the investment for most or all of the $5 million. Due diligence and approval processes are expected to last several weeks.
About Nstein Technologies
Nstein Technologies (TSX-V: EIN) develops and markets leading edge software solutions for analyzing vast amounts of unstructured data in virtually all languages. Nstein's linguistic based platform collects, organizes, analyzes, cross examines, shares and translates data from any sources, in real time. Nstein's solutions transform reactive decision making into a high impact proactive and even predictive process, and solve mission critical problems. Nstein has developed tailored solutions for clients in homeland security & intelligence and e-publishing markets, as well as for large enterprises and government organizations. The Company is headquartered in Montreal, Canada, with offices in the United States and Europe. More information is available at www.nstein.com
- The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
- Any statement that appears prospective shall not be interpreted as such.
###
For more information:
Nstein Technologies Inc.:
Investor Relations
Robert Barakett
Executive Vice-President and Chief Financial Officer
Nstein Technologies Inc.
Tel: 514 908-5406
robert.barakett@nstein.com
Media
Rina Marchand
Marketing Manager
Nstein Technologies Inc.
Tel: 514 908-5406
rina.marchand@nstein.com