More interest in AIQAtlantis received alternative financing offer
4/29/04
TORONTO, Apr 29, 2004 (Canada NewsWire via COMTEX) --
Atlantis Systems Corp. ('Atlantis') announced today that it has received an unsolicited financing offer as an alternative to the offer from Claymore Capital Management Inc. ('Claymore') of Toronto announced on March 16, 2004.
Atlantis previously announced dw
that it had signed a letter of commitment with Claymore, whereby Claymore would provide Atlantis with a $5,000,000 convertible credit facility (the 'Credit Facility'). This transaction is conditional upon the required regulatory and shareholder approvals. A proxy circular describing the financing was mailed to Atlantis'shareholders in late March 2004 and a Special Meeting of Shareholders to vote on the Claymore financing is scheduled for April 30, 2004.
The Board recognizes that it has been entrusted by Atlantis'shareholders to ensure that it reviews all legitimate financing offers that are presented to it. The Board considers this new offer to be genuine and worthy of consideration. As a consequence, the Board has determined that the Special Meeting of Shareholders of April 30, 2004 will be adjourned in order to allow a thorough evaluation of the financing alternatives.
The April 30 meeting will thus be convened as planned and immediately adjourned. The Board intends to ask shareholders to reconvene this meeting on Monday, May 10, 2004 at a time and location yet to be confirmed.