MONTREAL (Quebec), July 17, 2014
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Alphinat Inc. (“Alphinat”) (TSX-V: NPA), a leader in innovative Software for the Smart Enterprise™, announces that it is proceeding to non-brokered private placement, maximum of $3,000,000, consisting of Class A Units, each comprising a Class A Debenture accompanied by one Bonus Common Share per dollar of Class A Debenture subscribed and Class B Units, each consisting of Class B Debentures accompanied by one Bonus Common Share per dollar of Class B Debenture subscribed. The 3rd tranche of a private placement was completed after markets closed Thursday, July 10, 2014 of $120,000.00 units in Series A 10% unsecured debenture of the financing the Company had announced on August 6th 2013. Units comprise of a 10% unsecured debenture maturing September 30, 2017 and a bonus share for every $1.00 of unit purchased.
The Class A Debentures bear interest at 10% annually with interest payable quarterly and mature on September 30, 2017. They are redeemable by the Corporation on or after September 30, 2015. They are being offered at their face value. The Class A Debentures are convertible at their principal amount into the next equity issue of the Corporation. This transaction was a non-brokered private placement that saw insiders participated in the amount of $120,000.00 of this private placement, of which brings $40,000.00 is the conversion of advances that bore 12% annual interest. The result is $80,000 of new investment into Alphinat Inc.
Alphinat has continued to make strong headway into partnerships for enterprise license sales, OEM agreements as well as for launching SaaS services. The financing is to help accelerate direct sales and the uptake in sales with partners, with a growing number of installed clients in various geographies and industry sectors.
Additional information on Alphinat Inc can be found on SEDAR, at www.sedar.com.
At Alphinat, we are driven by the passion to make application development easy for everyone. It always struck us as odd that the people with the vision of how a finished application should look and behave would only be involved at the start of the process. After all, what better way to ensure a favourable outcome than to provide those closest to an application’s end-users with a vested interest in its success throughout its development?
That’s why we bring you new ways to empower the right people at the right time in the application development process. At the same time, we’re constantly working to reduce the need to code in order to make application development and maintenance simpler and less error-prone.
So whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps or engage us or one of our partners to do the work for you, we’re here to help you deploy better applications in record time. Visit http://www.alphinat.com for more information. We look forward to hearing from you.
Certain statements in this document, including those which express management’s expectations or estimations with regard to the Company’s future performance, constitute “forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company’s Annual Report.