August 2, 2002
Netgraphe Inc. Signs Financing Agreement To Continue Development
Montreal, Quebec - Netgraphe Inc. signed today a financing agreement for six million dollars ($6,000,000) that will allow the Company to improve its working capital position and continue its development.
This financing consists of senior convertible debentures issued by Netgraphe at 8% payable to Quebecor Media Inc. and 9085-3011 Québec Inc. (formerly InfiniT Inc.), a company held jointly by Quebecor Media and Groupe TVA Inc.
These debentures, at a unit price of one hundred dollars ($100), will become due on August 2, 2009. They are convertible into subordinate voting shares from Netgraphe's capital stock at a conversion rate of $0.18 per share.
The transaction has been conditionally approved by the Toronto Stock Exchange subject to the fulfillment of certain conditions prior to August 23, 2002.
Netgraphe Inc. is an integrated company offering various services such as e-commerce, information, communication and consulting in information technology. Netgraphe owns the CANOE network, which includes Canoe.ca, Canoe.qc.ca, La Toile du Québec (Toile.com), Webfin.com, Megagiciel.com as well as Micanoa.com in Spain. The network totals more than 4.3 million unique on-line visitors per month (source: MediaMetrix). In addition, Netgraphe owns e-commerce sites specialized in the field of employment, Jobboom.com, automobiles, Autonet.ca, personals, MatchContact.com, on-line shopping, Shop.canoe.ca and classifieds, ClassifiedExtra.ca. Through its subsidiary Progisia Informatique, Netgraphe also offers IT consulting services of which e-commerce, outsourcing, integration and secure transaction environments. Netgraphe is listed on the Toronto Stock Exchange under the ticker www.
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Source:
Hugues Simard
President and Chief Executive Officer
Netgraphe Inc.
Office: (514) 847-9155
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