Robert Scoble got started in vlogging or video blogging when he began filming his co-workers at Microsoft (with their permission of course) and uploading that to his website which turned blog. He has just joined podtech.net, makes sense. Have fun Robert, do cool stuff!
June 2006 Archives
Om Mailik, now formerly of Business 2.0 has busted out on his own. Good for you Om, and all the best!
Shift Announces Closing of $5.2 Million Equity Financing
Calgary, Canada, June 14, 2006 – Shift Networks Inc. (TSX-V:SHF), announced today that the Corporation closed a brokered private placement (“Private Placement”) of units (“Units”), subject to regulatory approval, which raised $5,200,000, an increase from the $5,000,000 previously announced. The Corporation issued 34,666,667 Units at $0.15 per Unit. Each Unit consisted of one common share and one-half of one common share purchase warrant. Each common share purchase warrant is exercisable into one common share at a price of $0.18 until June 14, 2008.
Loewen, Ondaatje, McCutcheon Limited acted as lead agent for this Private Placement, and received a cash commission and Agent’s Warrants. Each Agent’s Warrant is exercisable until June 14, 2006 into one Unit at a price of $0.15 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant exercisable into one common share at a price of $0.18 until June 14, 2008.
The Units issued pursuant to the private placement are subject to a four month hold period. Shift intends to use the proceeds of the Private Placement as follows:
- accelerate expansion into Eastern Canada, specifically Toronto, and continue to fund growth in Calgary, Edmonton and Vancouver;
- deploy new network technology to increase margins, features and services; and
- reduce demand barriers with lower priced telephone handsets bundled with monthly service.
Shift Networks is the leader in next generation Voice over IP services for small to medium-sized businesses. Shift Networks trades on the TSX Venture Exchange under the symbol "SHF". Please visit our website at www.shiftnetworks.com.
For information please contact:
Press & Media Shift Networks Inc.
Christian Darbyshire Trent Johnsen
(416) 419-9953 President and CEO
[email protected] (403) 355-2703
[email protected]
The TSX Venture Exchange does not accept responsibility for the adequacy and accuracy of this release.
