DATA Communications Management Corp. Announces Closing of $26.1 Million Private Placement Offering
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
The Offering was led by Clarus Securities Inc., on behalf of a syndicate of agents that included Acumen Capital Finance Partners Limited and Canaccord Genuity Corp. (collectively, the “Agents”), and included the issuance of 373,867 Common Shares upon the exercise of the Agents’ over-allotment option, on the same terms and conditions as the Offering. In connection with the Offering, the Company issued to the Agents broker warrants entitling the Agents to acquire, in the aggregate, up to 261,216 Common Shares at a price of
Insiders of DCM, including senior members of the Company’s leadership team, subscribed for
The Common Shares issued under the Offering will be subject to a hold period expiring four months and one day after closing. The Company intends to use the net proceeds of the Offering for general corporate and working capital purposes.
Following closing of the Offering, a total of 55,022,883 Common Shares are issued and outstanding.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within
ABOUT DATA COMMUNICATIONS MANAGEMENT CORP.
DCM is a marketing and business communications partner that helps companies simplify the complex ways they communicate and operate, so they can accomplish more with fewer steps and less effort. For more than 60 years, DCM has been serving major brands in vertical markets including financial services, retail, healthcare, energy, other regulated industries, and the public sector. We integrate seamlessly into our clients’ businesses thanks to our deep understanding of their needs, transformative tech-enabled solutions, and end-to-end service offerings. Whether we’re running technology platforms, sending marketing messages, or managing print workflows, our goal is to make everything surprisingly simple.
Additional information relating to DATA Communications Management Corp. is available on www.datacm.com, and in the disclosure documents filed by DATA Communications Management Corp. on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230525005506/en/
For further information, please contact:
Mr. Richard Kellam
President & Chief Executive Officer
DATA Communications Management Corp.
(905) 791-3151
Mr. James E. Lorimer
Chief Financial Officer
DATA Communications Management Corp.
(905) 791-3151
ir@datacm.com
Source: DATA Communications Management Corp.