/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWS WIRE SERVICES/
TORONTO, Jan. 17, 2014 /CNW/ – Posera – HDX Limited (“Posera – HDX” or the “Company”) is pleased to announce that further to the press release dated November 29, 2013, it has completed the closing of its private placement of Posera – HDX Convertible Debentures. On January 15, 2014 the Company issued a total of $1.5 million (principal amount) of unsecured convertible subordinated debentures (the “Offering”). The unsecured convertible subordinated debentures (“Convertible Debentures”) will mature on January 15, 2017 will pay interest at a rate of 10.25% per annum, payable monthly. Each Convertible Debenture will be convertible into Posera – HDX Common Shares at $0.45per Posera – HDX Common Share until January 15, 2016 and at $0.60 per Posera – HDX Common Share thereafter until maturity. The offering price of each Convertible Debenture was $900 per $1,000 principal amount resulting in gross proceeds to Posera – HDX of $1.35 million. Posera – HDX paid a finders fee equal to 5.0% of the gross proceeds of the Offering.The Company’s common shares are listed on the Toronto Stock Exchange (the “TSX”) under the symbol “HDX”. The proceeds from the private placement are currently primarily targeted to be utilized to (i) increase the working capital position of the Company and (ii) expand its workforce in connection with growing its current business and in order to take advantage of the opportunities presented by the recent acquisition of Zomaron Inc.
The common shares issuable upon conversion of the Convertible Debentures have been conditionally approved for listing on the Toronto Stock Exchange.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities inthe United States.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities laws an may not be offered or sold within the United States of to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About the Company
Posera – HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera – HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.
Posera – HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
Posera – HDX Limited develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 113 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera – HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.),Paris (France) and Singapore.
Additional information on Posera- HDX is available in the financial reports filed by the Company with SEDAR atwww.sedar.com and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera – HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera – HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
For further information:
Chief Executive Officer
Posera – HDX Limited (HDX)
350 Bay Street, Suite 700
Toronto, Ontario M5H 2S6
(416) 703-6462 ext. 2263