Amadeus International Completes $1.75 Millions Financing
Quebec City, February 10, 2006 - Amadeus International inc. “Amadeus” (TSX-V: AML), a pioneer and leader of advanced compliance process control solutions, is pleased to announce that they completed a private placement financing at a minimum of $1 000 000 and a maximum of 1 400 000 $ in Canadian dollars, $1 000 000 was subscribed on February 9, 2006 and confirmed credit facilities of more than 750 000 $ with Desjardins Business Centres. The investors having taken share in the first part of the private placement of $1 000 000 are Société Innovatech Quebec and Chaudière-Appalaches, Sipar inc. and FIER – Cap Diamant, Sponsorship Company.
Pursuant to the terms of the private placement, Amadeus International will be issuing convertible debentures expiring on the second anniversary of the issuing date which is February 9, 2008. The debentures have a coupon of 15% yearly if the company chooses to pay the due interests by issuing common shares or at the rate of 10% yearly if the company chooses to pay the interests in cash. The interests are payable semi annually. The debentures can be converted in common shares of the Company at $0,15 per action. Purchasers of the Debentures are also receiving warrants at a minimum of 2 200 000 and a maximum of 3 080 000 warrants. Each Warrant is exercisable at $0,225 per common share for a period of 24 months from the closing date of the financing. Assuming the conversion of all the Debentures and the exercise of all the Warrants, Amadeus would issue 8 866 667 common shares representing 25.7 % of its currently issued and outstanding common shares, in the case of the minimum placement, and a maximum of 12 413 334 common shares representing 35,9 % of its currently issued and outstanding common shares.
“This investment represents, for Amadeus, a solid vote of confidence in our vision, our strategic orientation and our direction. Since our last financing in December 2004, Amadeus has achieved major milestone toward perfecting our service offerings and consolidating our industry positioning. We have launched our new eQCM® Web solution, listed the Company on the stock exchange, made a strategic acquisition, M3K Solutions, and expended our network of resellers and strategic partners. This new financing will accelerate our marketing efforts of compliance process control solutions on the Canadian, American and European markets. We will continue the integration of our consultation activities in regards to corporate governance (Sarbanes Oxley and law 198) to our software application in order to offer more complete and competitive solution» mentioned Yves Leblanc, President and CEO of Amadeus International.
About Amadeus International
Amadeus International is a pioneer and leader in compliance process control solutions. Its flagship product, eQCM®, is a flexible, Web-based integrated suite of applications that allow organizations to map regulated business processes such as CAPA, non-conformances, customer complaints, audits, and other related quality and business processes. The application suite is coupled with powerful business intelligence capabilities, enterprise content management, and related technologies that help organizations achieve sustained compliance. Amadeus International's global headquarters are located in Quebec City. Amadeus solutions are distributed across four continents.
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For further information
Amadeus International
400 Jean-Lesage Boulevard, Suite 500
Quebec City, QC, G1K 8W1, Canada
Frédéric Garand, CA, Chief Financial Officer
Phone: (418) 525-0606 poste 268
E-mail: frederic.garand@amadeussolutions.com
