Wireless Matrix closes US$14.7 million bought deal financing

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.