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Wireless Matrix closes US$14.7 million bought deal financing

Fasken
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Client

Wireless Matrix

On June 13, 2007, Wireless Matrix Corporation announced that it had closed its previously announced "bought deal" common share financing by way of short form prospectus with a syndicate of underwriters, co-led by Orion Securities Inc. and GMP Securities L.P. and including Wellington West Capital Markets Inc. The underwriters fully exercised their over-allotment option to purchase additional common shares from Wireless Matrix, resulting in gross proceeds of the offering of $14,662,500. Net proceeds of the financing will be used to fund acquisitions, growth capital, repayment of Wireless Martix's existing line of credit of US$2 million and for general working capital purposes. The underwriters were advised in this transaction by Rubin Rapuch, John Sabetti and Jeffrey Klam of Fasken Martineau.

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