|By Marketwired .||
|July 3, 2014 05:53 PM EDT||
VAUDREUIL-DORION, QUEBEC -- (Marketwired) -- 07/03/14 -- Immunotec Inc. (TSX VENTURE: IMM), a Canadian-based company and a leader in the wellness industry (the "Company" or "Immunotec"), is pleased to announce that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada in connection with a treasury offering of common shares ("Common Shares") in the capital of the Company (the "Primary Shares") and a secondary offering of Common Shares (the "Secondary Shares" and collectively with the Primary Shares, the "Offered Securities") by two selling shareholders of the Company (the "Selling Shareholders") for gross proceeds of $7 million to $15 million (the "Offering").
The net proceeds from the sale of Primary Shares pursuant to the Offering will be used by the Company primarily (i) to finance future growth opportunities, such as expanding its direct selling network in new markets in Central and South America, (ii) to establish "pick and pack" facilities in Mexico, (iii) to purchase new manufacturing equipment for its existing manufacturing facility located in Blainville, Quebec, Canada, (iv) to improve its information technology and systems infrastructure and (v) for working capital and general corporate purposes.
Canaccord Genuity Corp. will act as lead underwriter (the "Lead Underwriter") and Euro Pacific Canada Inc. and Industrial Alliance Securities Inc. will act as co-managers (collectively with the Lead Underwriter, the "Underwriters") in connection with the Offering. An underwriting agreement for the Offering will be entered into by the Company, the Selling Shareholders and the Underwriters, at the time of filing of the final short form prospectus.
The Company and the Selling Shareholders expect to grant to the Underwriters a 30-day option to purchase up to an additional 15 percent of the number of Offered Securities sold pursuant to the Offering to cover over-allotments, if any, and for market stabilization purposes.
Final pricing and determination of the number of Primary Shares and Secondary Shares to be sold pursuant to the Offering will occur immediately prior to the filing of the final short form prospectus in respect of the Offering. The Offering is subject to market conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The Offering is subject to customary conditions and regulatory approval, including that of the TSX Venture Exchange.
If completed, the closing of the Offering shall take place within 30 days of the date of receipt for the final short form prospectus in respect of the Offering, or on such other date agreed upon by Company and the Lead Underwriter. The Offered Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws of the United States. Accordingly, the Offered Securities will not be offered or sold to persons within the United States unless an exemption from the registration requirements of the 1933 Act and applicable state securities laws is available.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein.
Copies of the preliminary short form prospectus will be available once a receipt has been obtained therefor at www.sedar.com and a written copy may be obtained upon request by contacting Canaccord Genuity Corp., Attention: Ron Sedran, Managing Director, Equity Capital Markets, P.O. Box 516, 161 Bay Street, Suite 3000, Toronto, Ontario M5J 2S1.
About Immunotec Inc.
Immunotec is dedicated to improving people's lives every day by offering research-driven nutritional products through its network of Independent Consultants worldwide. Immunotec's strength comes from its culture that emphasizes teamwork and entrepreneurial leadership by employees, consultants and research collaborators.
Headquartered with manufacturing facilities near Montreal, Canada, Immunotec Consultants generated nearly $55.0 million in annual revenues for the Corporation during fiscal year 2013. Immunotec reported for the first half of fiscal 2014 an overall revenue growth of 42%. Revenues from the United States grew 36% and revenues from Mexico grew 81% over the same period. Please visit us at www.immunotec.com for additional information.
The Company files its continuous disclosure documents on the SEDAR database at www.sedar.com and on the Company's website at www.immunotec.com. The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS: Certain statements contained in this news release are forward looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Immunotec's most recent Management's Discussion and Analysis, Annual Information Form and Preliminary Short Form Prospectus, which can be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.
Patrick Montpetit CPA, CA, CF
Vice-President and Chief Financial Officer
Modern Systems announced completion of a successful project with its new Rapid Program Modernization (eavRPMa"c) software. The eavRPMa"c technology architecturally transforms legacy applications, enabling faster feature development and reducing time-to-market for critical software updates. Working with Modern Systems, the University of California at Santa Barbara (UCSB) leveraged eavRPMa"c to transform its Student Information System from Software AG's Natural syntax to a modern application lev...
Apr. 28, 2015 02:15 PM EDT Reads: 1,851
Chef and Canonical announced a partnership to integrate and distribute Chef with Ubuntu. Canonical is integrating the Chef automation platform with Canonical's Machine-As-A-Service (MAAS), enabling users to automate the provisioning, configuration and deployment of bare metal compute resources in the data center. Canonical is packaging Chef 12 server in upcoming distributions of its Ubuntu open source operating system and will provide commercial support for Chef within its user base.
Apr. 28, 2015 02:00 PM EDT Reads: 1,916
Public Cloud IaaS started it's life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in ado...
Apr. 28, 2015 02:00 PM EDT Reads: 1,387
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) ap...
Apr. 28, 2015 02:00 PM EDT Reads: 1,691
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company...
Apr. 28, 2015 01:30 PM EDT Reads: 354
SYS-CON Events announced today that CenturyLink, Inc., a leader in the network services market, has been named “Platinum Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. CenturyLink is the third largest telecommunications company in the United States and is recognized as a leader in the network services market by technology industry analyst firms. The company is a global leader in cloud infrastructure and ...
Apr. 28, 2015 01:02 PM EDT Reads: 436
Docker, Inc., has been included in the list of "Cool Vendors" in the April 21, 2015 report by Gartner, Inc, Cool Vendors in DevOps, 2015. In the report, Gartner notes, “As virtualization and cloud applications grow beyond being single images run on premise to being comprised of multiple tiers that can be run and scaled in a hybrid cloud, new approaches are needed to reduce complexity.” “Docker has gained great traction within the developer community for how efficient it makes the individual de...
Apr. 28, 2015 01:00 PM EDT Reads: 381
ProfitBricks, the provider of painless cloud infrastructure IaaS, today released its SDK for Ruby, written against the company's new RESTful API. The new SDK joins ProfitBricks' previously announced support for the popular multi-cloud open-source Fog project. This new Ruby SDK, which exposes advanced functionality to take advantage of ProfitBricks' simplicity and productivity, aligns with ProfitBricks' mission to provide a painless way to automate infrastructure in the cloud. Ruby is a genera...
Apr. 28, 2015 01:00 PM EDT Reads: 1,161
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Apr. 28, 2015 12:00 PM EDT Reads: 2,426
How is unified communications transforming the way businesses operate? In his session at WebRTC Summit, Arvind Rangarajan, Director of Product Marketing at BroadSoft, will discuss how to extend unified communications experience outside the enterprise through WebRTC. He will also review use cases across different industry verticals. Arvind Rangarajan is Director, Product Marketing at BroadSoft. He has over 19 years of experience in the telecommunications industry in various roles such as Softw...
Apr. 28, 2015 12:00 PM EDT Reads: 1,822
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, de...
Apr. 28, 2015 12:00 PM EDT Reads: 5,310
SYS-CON Events announced today that B2Cloud, a provider of enterprise resource planning software, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. B2cloud develops the software you need. They have the ideal tools to help you work with your clients. B2Cloud’s main solutions include AGIS – ERP, CLOHC, AGIS – Invoice, and IZUM
Apr. 28, 2015 12:00 PM EDT Reads: 3,698
ProfitBricks has launched its new DevOps Central and REST API, along with support for three multi-cloud libraries and a Python SDK. This, combined with its already existing SOAP API and its new RESTful API, moves ProfitBricks into a position to better serve the DevOps community and provide the ability to automate cloud infrastructure in a multi-cloud world. Following this momentum, ProfitBricks has also introduced several libraries that enable developers to use their favorite language to code ...
Apr. 28, 2015 12:00 PM EDT Reads: 1,851
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquir...
Apr. 28, 2015 12:00 PM EDT Reads: 1,773
Many of the well-known examples of DevOps success we read in blogs on the Internet paint an idyllic picture of DevOps productivity. A team was facing a stodgy, slow-moving operations department, teams weren’t delivering software on time. Those teams moved to DevOps, became proactive about infrastructure and deployment automation, and an overnight transition to productivity ensues. People are promoted, projects are successful, and developers and system administrators dance hand-in-hand in a final...
Apr. 28, 2015 11:15 AM EDT Reads: 1,379