Dec, 2001 : Radiant Completes First Step Toward Going Public

📅 December 5, 2001 - Radiant Communications Limited (radiant.net -> hostpapa.com) has announcedthat they have signed an engagement agreement with Canaccord Capital(canaccord.com) to develop a framework for going public. As part of this agreement Canaccord will be the lead manager in the private placement of up to $5 million of securities. These funds will be used by Radiant to complete its expansion and to fund its growth. As part of this process, Radiant has signed a letter of intent with Castle Bay Enterprises Ltd. to complete a merger that will constitute a qualifying transaction for the Canadian Venture Exchange.

The proposed merger is subject to the negotiation of definitive agreements,shareholders' approvals for both companies and certain judicial andregulatory approvals. The merger is scheduled to close by March 2002,assuming all conditions are met.
Omaya Elguindi, Radiant's newest board member from Toronto, stated, "This isthe logical next step for an innovative customer-focused company likeRadiant, which is succeeding and continuing to show strong growth in today'schallenging business climate."

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URL source: http://www.thewhir.com/marketwatch/radiant1206.cfm

Company: Radiant.net [radiant.net -> hostpapa.com]

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