Intema Solutions Inc. (“Intema” or the “Corporation”)
(TSXH: ITM) wishes to provide clarification on its previously issued
press release dated March 29, 2019 (the “March 29 Press Release”).
The March 29 Press Release incorrectly stated that the Corporation had
completed a non-brokered private placement of 30,000,000 common
shares at a price of $0.025 per share for gross proceeds of
$750,000, when it should have stated that the Corporation had completed
a non-brokered private placement of 30,000,000 special
warrants at a purchase price of $0.025 per special warrant for
gross proceeds of $750,000.
The terms of the Private Placement are the same as those previously
announced on September 26, 2018 and February 27, 2019: each special
warrant will be converted into one unit on a pre-consolidation basis,
subject to the completion of a share-consolidation of the Corporation on
the basis of one (1) new common share for two (2) old common shares (the
“Consolidation”). Should the Consolidation not be completed, the
special warrants will be converted in units on the basis of a price of
0.05$ per unit. Each unit includes one common share and one underlying
warrant. The 30,000,000 special warrants will be converted into
15,000,000 units.
The securities issued under the Private Placement are subject to a
four-month hold period from the date of closing. No creditors of the
Corporation have participated in the financing. The net proceeds of the
Private Placement will enable Intema to substantially advance the
marketing of its Predictive Marketing Engine, a new technology platform
that addresses the specific needs of predictive marketing.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined on policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
About Intema Solutions Inc.
Intema Solutions Inc.’s mission is to integrate technologies to
marketing. The company develops technologies for marketing and services
related thereto. Its services are predictive marketing, relationship
marketing and database marketing. Since 1994, INTEMA has dedicated its
efforts to deliver key solutions to the marketing industry. Amongst its
clients are companies of all sizes in North America. For more
information, please visit our website at www.intema.ca
Caution concerning forward-looking statements
This news release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws that
involve risks and uncertainties. Such statements include those with
respect to the Corporation’s ability to raise funds under the Private
Placement and the Corporation’s new platform. Although the Corporation
believes the expectations reflected in such forward-looking statements
are based on reasonable assumptions, it can give no assurances that its
expectations will be achieved. Such assumptions, which may prove
incorrect, include the following: (i) Intema’s management will not
identify and pursue other business objectives using the proceeds of the
Private Placement and (ii) no technological, financial or other
obstacles will prevent the Corporation from introducing its new platform
in a timely manner or altogether. Factors that could cause actual
results to differ materially from expectations include (i) the
Corporation’s failure to make effective use of the proceeds of the
Private Placement, (ii) the Corporation’s inability to obtain the
necessary regulatory approvals for the Private Placement, (iii) the
failure of the Corporation’s technology platform for technical or other
reasons, (iv) a deterioration in capital market conditions that prevents
the Corporation from raising the funds it requires on a timely basis and
(v) generally, the Corporation’s inability to develop and implement a
successful business plan for any reason. These factors and others are
more fully discussed in the Corporation’s filings with Canadian
securities regulatory authorities available at www.sedar.com.
Actual results may vary from the forward-looking information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190412005465/en/