/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWS WIRE
SERVICES/
TORONTO, Feb. 4, 2014 /CNW/ - Paul K. Howell, CEO of Posera-HDX Ltd.
Reports:
Posera-HDX Limited ("Posera-HDX" or the "Company") recently announced
the closing of a private placement of Posera-HDX Common Shares. The
Company issued a total of 3,108,667 Common Shares for gross proceeds of
$932,600.
Sigma Capital Partners (Sigma), a U.S. based technology private equity
fund, has made an equity investment of $500,000 USD and acted as an
advisor in respect to the Common Shares issued. Sigma received an
advisor's fee of $35,000 USD together with warrants to acquire 177,533
Common Shares. The warrants are exercisable for a period of two years
at an exercise price of $0.45 per Common Share.
Commented Maydan Rothblum, Managing Director at Sigma: "Given our
experience in the transaction processing space, we believe that there
are significant growth opportunities in this segment and that
Posera-HDX is well positioned to capitalize on them. We are excited to
become an equity investor and are looking forward to helping the
Company expand its U.S. presence, both from a business development and
capital markets perspective."
Due to the requirement for EMV compliant payment technologies in the
United States, and the announced fraudulent transaction liability shift
from major credit card companies to merchants in October of 2015,
Posera-HDX Ltd. anticipates rapid growth of new payment solution
deployment in the United States in the coming years.
"The Sigma team has demonstrated that they understand our industry, our
company, and the opportunities available to Posera-HDX over the coming
years" said Paul Howell, CEO of Posera-HDX. "Maydan has followed our
company and provided valuable guidance and insight for a number of
years and this recent transaction has formalized our already
complementary relationship. Posera-HDX is honoured to work with Sigma.
Sigma Capital Partners, LLC, through its affiliate fund Sigma
Opportunity Fund II, LLC, is a multi-strategy private equity firm that
focuses on investing in small-to-mid size companies operating primarily
in the IT, Telecom, Technology and Business Services industries. Sigma
works closely with management to unlock shareholder value and provide
guidance and assistance in the areas of finance, operations, strategy,
M&A and business development. For more information, please visit: www.sigmacp.com
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 being issued pursuant to the private placement were
approved for listing on the Toronto Stock Exchange.
About the Company
With proven experience in EMV Chip and PIN compliant technologies,
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 Ltd. acquired Zomaron Inc. in December 2013. Zomaron provides
credit and debit card processing solutions to Canadian merchants
nationwide. Based in London, Ontario, Zomaron has offices in Edmonton
AB, Toronto ON, and Montreal QC. Through its nation-wide network of
sales representatives and strategic partnerships, Zomaron has
experienced rapid growth, doubling its sales annually. Zomaron's
exponential growth led it to be ranked on PROFIT magazine's 13th and 14th annual PROFIT HOT 50 ranking.
The addition of Zomaron's 150 sales agents will greatly increase
Posera-HDX's ability to market and distribute the Company's leading
edge technology including 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 96 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 at www.sedar.com and posted to the Investor Relations section of the Company's website
at www.hdxsolutions.com
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the 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.
Forward-Looking Statements
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.
SOURCE Posera-HDX
