April 7, 2000
NEWS RELEASE NO. 00-008
Trading Symbol CDNX: CCB
US SEC Exemption No. 82-3378
RICHMOND, BC - Last night CON-SPACE Communications Ltd. (CDNX:CCB) held the first of a number of planned Investor meetings in which the Senior Officers, CDNX officials, and various others presented the overall status, a new public offering and growth plans for the company to the many interested investors.
The audience heard how the Company began because of a recognized opportunity, how it created a special worldwide niche market with CON-SPACE being at the top. They saw how the company developed over the 8 years since it started and how the sales have consistently grown at an average of 34% per year. The story of start up, development and market penetration fascinated the attendees but the growth plans were the real excitement.
Terence A. Ibbetson, President, and James L. Swanson, Chairman, presented the Company's operational plan for the upcoming 48 months and reviewed the potential sales growth anticipated during this period. These plans included new products, new markets and many major contracts currently being worked on including the US Navy, the Domestic Preparedness Program in the US and a number of Private Label Projects.
The Company also overviewed its new public "Short Form Offering" announced by a news release earlier in the day. The Offering is made up of 1,000,000 Units, each consisting of one common share and one transferable warrant for $0.60 each. Two warrants are exercisable within a 12 month period to purchase a further common share at a price of $0.80. Canaccord Capital Corporation of Vancouver is the agent for the offering. A further plan was then outlined in which this first public offering will be followed by two consecutive larger private financings. Each stage of funding is designed to develop both the business of the Company and to strengthen its march into the US investment arena. As these fundings are taking place the Company intends to proceed with an "SB1" registration in the United States and then when it meets the listing requirements for AMEX (the American Stock Exchange), it will file the appropriate documents for a listing on that exchange.
Due to the overwhelming success of the meeting the Chairman announced that there would be a follow on meeting on April 26, 2000, again at the Abercorn Inn, Best Western in Richmond, and that everyone was invited to come and bring a friend. If members of the public would like to attending future meetings they are invited to call the company at (604) 244-9323 or (800) 546-3505 and register your name, address, phone and e-mail address with Roz or David.
CON-SPACE specializes in the design and
manufacturing of specialized voice communication equipment that
is used by Police, Fire, Rescue, Government Agencies, Militaries,
Municipalities and general industry. Their products are recognized
as leading edge technology and number one in the world. The Company
has distribution throughout North America, Great Britain, Australia,
and parts of Asia, South America, and Europe. Our web site is
For more information, please call Shaheen Sidi, Controller, CON-SPACE COMMUNICATIONS LTD., (604) 244-9323, (800) 755-2528 in the U.S., or by e-mail [email protected]. "Forward-looking" statements in this release involve risks and uncertainties associated with, among others, economic, industry conditions, technological development, and competition and should not be relied upon as actual results may differ materially from those projected.
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