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EKD Epic Data International Inc.

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Share Name Share Symbol Market Type
Epic Data International Inc. TSXV:EKD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Epic Data Announces $2.0 Million Financing

14/06/2012 2:30pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Epic Data International Inc. (the "Company") (TSX VENTURE:EKD), a provider of
manufacturing execution systems (MES), today announced it intends to raise up to
an aggregate of $2,000,000 by way of a non-brokered private placement of a
combination of common shares at a price of $0.20 per share and secured
convertible redeemable debentures (the "Debentures"), which are convertible into
common shares of the Company at $0.20 per share. 


The Debentures will bear interest at a rate of prime plus 2% per annum, will be
payable monthly in arrears and will be due on the later of June 30, 2016 or 4
years from the date of closing of the private placement (the "Maturity Date").
The Debentures may be redeemed at face value in whole or in part from time to
time at the option of the Company on the date (the "Redemption Date") that is
not more than 60 days and not less than 30 days following prior written notice
to the holder. The Debentures may be converted into fully paid common shares of
the Company at the sole option of the holder at any time prior to the close of
business on the day which is the earlier of the Maturity Date or the Redemption
Date at $0.20 per share. The Debentures will be secured by a second ranking
charge against all the assets of the Company.


The proceeds will be used to market the Company's manufacturing operations
management software products, to fund product development and for general
working capital purposes. 


Certain insiders of the Company may acquire securities under the private
placement. That portion of the private placement that is sold to insiders may be
considered a "related party transaction" as such term is defined by Canadian
securities legislation and the policies of the TSX Venture Exchange (the
"Exchange"). The Company anticipates that it will be able to rely on exemptions
to the shareholder approval and valuation requirements imposed by Canadian
securities legislation and the policies of the Exchange in respect of the
related party transactions. 


All securities issued pursuant to the private placement are subject to a four
month hold period following the closing date. The closing of the private
placement is subject to the acceptance of the Exchange.


Grant of Stock Options

The Company announces the granting of 100,000 stock options to a senior
executive. The term of the options will be 7 years from the date of grant and
the exercise price will be $0.10 per share. 


About Epic Data

Epic Data International Inc. is a provider of manufacturing execution and
warehouse management solutions. For 36 years Epic Data has delivered real-time
data collection and production information to discrete manufacturers through
turnkey data collection, warehouse management and lean manufacturing operations
management solutions. Defense contractors, aerospace, automotive, high
technology and industrial equipment & machinery manufacturers, employ Epic Data
solutions to optimize the ROI of their manufacturing IT infrastructure
investments and operations by increasing plant productivity, materials
visibility and production velocity. Customers include Hawker Beechcraft,
Lockheed Martin, Bell Helicopter, Komatsu, Bombardier Learjet, CAE Inc.,
Kingfisher (B&Q) plc, Joy Mining Machinery, Cobham Defence Communications Ltd.,
GE Aircraft Engine, Contour Premium Aircraft Seating, McBride plc, Phoenix
Contact, Rolls-Royce and Volvo. 


For more information about Epic Data please visit our website at
www.epicdata.com or www.epicdatachina.com. 


The securities offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended, or any State laws and may not
be offered or sold in the United States absent registration or any applicable
exemption from the registration requirement of such Act. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.


Caution Regarding Forward-looking Statements

In this document and in other documents filed with Canadian regulatory
authorities or in other communications, the Company may from time to time make
written or oral forward-looking statements within the meaning of applicable
securities legislation, including statements regarding the closing of the
financing and the Company's business plans and financial objectives. These
statements typically use words such as prospects, believe, estimate, forecast,
project, expect, anticipate, plan, may, should, could and would, or the negative
of these terms, variations thereof or similar terminology. By their very nature,
forward-looking statements are based on assumptions and involve inherent risks
and uncertainties, both general and specific in nature. It is therefore possible
that the forecasts, projections and other forward-looking statements will not be
achieved or will prove inaccurate. Although the Company believes that the
expectations reflected in these forward-looking statements are reasonable, it
provides no assurance that these expectations will prove to have been correct.
The Company cautions readers against placing undue reliance on forward-looking
statements when making decisions, as the actual results could differ
considerably from the opinions, plans, objectives, expectations, forecasts,
estimates and intentions expressed in such forward-looking statements due to
various material factors. Among other things, these factors include fiscal and
economic policies, changes in interest and foreign exchange rates, and general
economic conditions, legislative and regulatory developments, competition and
access to capital. The Company further cautions that the foregoing list of
factors is not exhaustive. For more information on the risks, uncertainties and
assumptions that would cause the Company's actual results to differ from current
expectations, please also refer to the Company's public filings available at
www.sedar.com. The Company does not undertake to update any forward-looking
statements, whether oral or written, made by itself or on its behalf, except to
the extent required by securities regulations.


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