TORONTO, ONTARIO--(Marketwired - Nov. 13, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
GuestLogix Inc. ("GuestLogix" or the "Company") (GXI.TO), the leading global provider of onboard retail and payment technology solutions to airlines and the passenger travel industry, today announced that it has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. and Cormark Securities Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, 9,092,000 common shares (the "Shares") of the Company, at a price of $1.10 per Share (the "Offering Price") for aggregate gross proceeds to GuestLogix of $10,001,200 (the "Offering").
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 1,363,800 Shares at the Offering Price, exercisable in whole or in part for a period of 30 days following closing of the Offering, to cover over-allotments. If the over-allotment option is exercised in full, an additional $1,500,180 will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $11,501,380.
The Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, except Québec. The Company intends to use the net proceeds from the offering to repay indebtedness, for general corporate purposes and for working capital. The Offering is expected to close on or about December 4, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
GuestLogix Inc. (GXI.TO), the leading global provider of onboard store technology and merchandising solutions, brings over a decade of expertise as a trusted onboard transaction processing partner to airlines, rail operators and the passenger travel industry. GuestLogix helps its customers to create, manage, and control onboard retail environments tailored to their needs and their passengers for a truly personalized experience. The Company is partnered with global leaders in catering, duty-free and inflight entertainment, offering complete onboard retailing services to airlines and rail operators worldwide. GuestLogix' global headquarters and centre for product innovation is located in Toronto, with regional head offices located in Dallas, London and Hong Kong. More information is available at www.guestlogix.com.
©2013 GuestLogix. All Rights Reserved.
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' 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 GuestLogix' 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 27, 2013 with the regulatory authorities. GuestLogix 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.