Texada Announces Closing of Fully Subscribed $4,500,000 Private Placement
GUELPH, ONTARIO, Jun 29, 2012 (Marketwire via COMTEX) --
Texada Software Inc. (TSX VENTURE:TXS) (the "Company") is pleased to announce that further to its press release dated May 16, 2012, the Company has completed the closing of the previously announced non-brokered private placement (the "Private Placement"), of 22,500,000 common shares of the Company (the "Common Shares") at a price of $0.20 per share for gross proceeds of $4,500,000.
The Common Shares issued in connection with the closing of the Private Placement are subject to hold periods of four months and one day from the respective dates of distribution under applicable securities laws and stock exchange rules. The Private Placement is subject to receipt of final TSX Venture Exchange approval.
More information may be found at www.sedar.com.
About Texada Software Inc. (TSX VENTURE:TXS)
Texada Software Inc., soon to be renamed Noble Iron Inc., operates in three complementary businesses, equipment rental, equipment dealership and enterprise software for the construction and industrial equipment industry.
The Company, through its wholly owned subsidiaries, is expanding its geographical presence. Noble Rents, the Company's equipment rental business, serves Southern California and is planning expansion to Southeast Texas over the summer of 2012. Noble Equipment is the Company's dealership business, and is the exclusive distributor of LiuGong Construction Machinery equipment in Southeast Texas.
The Company's software division, Texada Software, offers enterprise software for rental and other applications in the construction and industrial equipment industry. Texada's solutions help customers manage activities throughout the complete life-cycle from acquisition to disposal of equipment assets. Offered both in-the-cloud or client-based, Texada's software products are fully scalable to meet the needs of any sized operation and combine knowledge and best practices from over 5,000 users worldwide.
Texada can be reached at 1-800-361-1233 or 1-519-836-7073, or at www.texadasoftware.com.
This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Texada's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
SOURCE: Texada Software Inc.
Corporate communications contact:
Texada Software Inc.
Chief Financial Officer
1-800-361-1233 x - 2104
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