BSM Technologies Inc. Closes $22 Million Bought Deal Offering of Common Shares

Marketwired

TORONTO, ONTARIO--(Marketwired - Feb. 6, 2014) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

BSM Technologies Inc. ("BSM Technologies" or the "Company") (TSX VENTURE:GPS) is pleased to announce that it has completed its previously announced bought deal public offering of common shares of the Company (the "Offered Shares").

The Company issued a total of 7,333,334 Offered Shares at a price of $3.00 per Offered Share (the "Offering Price"), for aggregate gross proceeds of $22,000,002 (the "Offering"). The Offering was sold to purchasers arranged by a syndicate of underwriters co-led by Clarus Securities Inc. and Paradigm Capital Inc. and including Canaccord Genuity Corp., Cormark Securities Inc. and TD Securities Inc. (collectively, the "Underwriters"), upon the terms of an underwriting agreement entered into among the Company and the Underwriters. In addition, the Company has granted the Underwriters an over-allotment option to purchase that number of additional common shares equal to 15% of the Offered Shares sold pursuant to the Offering at the Offering Price for a period ending 30 days following the closing of the.

BSM Technologies intends to use the net proceeds of the Offering for general working capital purposes, including but not limited to business expansion, research and development, sales and marketing, product expansion and working capital.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

About BSM Technologies

BSM Technologies, through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance and a business intelligence engine providing real time, web-based tracking of mobile and fixed assets. BSM Technologies provides solutions for commercial, government and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles and lower business costs.

For more information, please visit http://www.bsmwireless.com.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward looking information. Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or be achieved and any other similar expressions. In particular, this news release includes, but is not limited to, statements about the timing of the closing of the offering, the jurisdictions in which the Common Shares will be offered and the intended use of proceeds of the offering, including assumptions with respect to the satisfaction and timing of receipt of required regulatory approvals and other conditions to closing the offering. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Some of these risks, uncertainties and other factors are described under the heading "Risk Factors" in the Company's annual information form available on www.sedar.com. Forward-looking information is based on estimates and opinions of management at the date the statements are made. Except as required by law, BSM does not undertake any obligation to update forward-looking information even if circumstances or management's estimates or opinions should change. Readers should not place under reliance on forward-looking information.

Contact:
BSM Technologies Inc.
Aly Rahemtulla
President & CEO
(416) 675-1201
arahemtulla@bsmwireless.com
www.bsmwireless.com

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