DEQ's Cash Position Increased by $9.1 Million from Exercised Warrants
26 Novembre 2007 - 2:01PM
Marketwired
LEVIS, QUEBEC announced today that it has received $9.1 million
from exercised share purchase warrants and subscription units
granted in its short form prospectus offering completed on November
17th, 2006.
As of the issuance of this press release, DEQ has 69,350,794
issued and outstanding common shares and the exercising of the
warrants and when combined with the operational cash flow, brings
the current cash position of the company to just over $10
million.
"It goes without saying that a strong cash position is an
envious situation for a growing company" stated Earle G. Hall,
DEQ's President & CEO. "2008 is a year where DEQ will expand
commercially in the USA and in Asia. A solid cash position is a
clear strategic advantage for a strong growth company and we are
very privileged to debut 2008 and our wide scale commercialization
phase in such a manner."
On November 17th, 2006, DEQ sold 15 million units at $0.40 per
unit, for gross proceeds of $6,000,000. Each unit was comprised of
one share and one common share purchase warrant. Each warrant
entitled its holder to subscribe to one common share at any time
before the first anniversary of the closing date of this Offering
at an exercise price of $0.60 and any time before the second
anniversary of the closing date, at an exercise price of $0.80. As
of the issuance of this press release, a total of 14,995,000 share
purchase warrants have been exercised for cash proceeds to DEQ of
approximately $9.0 million.
Also, the company issued 1,500,000 subscription units to the
underwriter. Each subscription unit entitled the underwriter, upon
payment of an exercise price of $0.40, to subscribe to one unit at
any time before the second anniversary of the closing date. Each
Unit consisted of one share and one common share purchase warrant.
Each warrant entitles its holder to subscribe to one common share
at any time before the first anniversary of the closing date of
this Offering, upon payment of an exercise price of $0.60 and at
any time before the second anniversary of the closing date, upon
payment of an exercise price of $0.80. As of the issuance of this
press release, the underwriter has exercised 122,525 units as well
as 92,120 share purchase warrants for gross proceeds of
$104,282.
ABOUT DEQ
Founded in 1998, DEQ Systems Corp. (TSX VENTURE: DEQ) is a
leader in the table game bonusing technology field. DEQ's patents,
products and features include side bet bonusing games with
progressive and random jackpot prizes, slot machine style mystery
bonusing, multiple credit and denomination betting flexibility,
dealer hand betting, electronic credit bank, electronic rake,
baccarat hand tracking, multimedia animation and sound effects. DEQ
has an extensive patent portfolio that is recognized in more than
50 countries such as the USA, Macau, Australia and Canada. DEQ's
bonusing solutions and products are present in more that 200
casinos in over 30 countries.
DEQ Systems Corp. has been selected in the TSX Venture 50 in
2007. "2007 Venture 50" is a trademark of TSX inc. and is used
under license.
Forward-looking statements contained in this Press Release
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance and achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by the said
forward-looking statements.
TSX Venture does not accept any responsibility regarding the
accuracy of the information contained in this press release.
Contacts: DEQ Systems Corp. 418-839-3012 418-839-5956 (FAX)
info@deq.com www.deq.com DEQ Systems Corp. Earle G. Hall President
& CEO earle.hall@deq.com DEQ Systems Corp. Francois Proulx
Chief Financial Officer francois.proulx@deq.com
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