Info Touch News Releases
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November 1, 2005
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October 10, 2005
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September 22, 2005
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September 15, 2005
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August 29, 2005
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August 2, 2005
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July 12, 2005
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June 15, 2005
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May 10, 2005
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May 2, 2005
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April 8, 2005
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March 28, 2005
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March 17, 2005
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March 17, 2005
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March 8, 2005
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March 2, 2005
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February 24, 2005
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January 27, 2005
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January 24, 2005
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January 17, 2005
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December 17, 2004
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December 16, 2004
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December 2, 2004
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December 1, 2004
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October 27, 2004
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October 12, 2004
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October 5, 2004
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September 27, 2004
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September 17, 2004
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August 24, 2004
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August 13, 2004
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June 28, 2004
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June 16, 2004
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June 15, 2004
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May 31, 2004
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May 4, 2004
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April 5, 2004
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March 31, 2004
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March 25, 2004
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March 19, 2004
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December 30, 2003
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November 12, 2003
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October 20, 2003
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October 14, 2003
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September 4, 2003
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August 7, 2003
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July 22, 2003
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June 27, 2003
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June 26, 2003
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June 17, 2003
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June 11, 2003
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May 27, 2003
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April 2, 2003
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March 31, 2003
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February 20, 2003
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January 28, 2003
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January 21, 2003
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January 7, 2003
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December 18, 2002
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October 16, 2002
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September 23, 2002
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September 16, 2002
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September 10, 2002
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August 26, 2002
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August 22, 2002
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August 19, 2002
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July 3, 2002
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July 2, 2002
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June 18, 2002
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June 11, 2002
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May 23, 2002
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May 8, 2002
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April 17, 2002
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April 9, 2002
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April 4, 2002
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April 2, 2002
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March 20, 2002
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March 7, 2002
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February 19, 2002
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February 6, 2002
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January 31, 2002
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January 30, 2002
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January 24, 2002
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January 2, 2002
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December 14, 2001
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December 7, 2001
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December 7, 2001
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Novemer 29, 2001
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Novemer 27, 2001
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Novemer 15, 2001
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October 30, 2001
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October 19, 2001
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October 16, 2001
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September 5, 2001
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July 9, 2001
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June 27, 2001
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June 26, 2001
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May 17, 2001
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May 9, 2001
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April 18, 2001
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April 16, 2001
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March 27, 2001
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February 21, 2001
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February 6, 2001
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January 23, 2001
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January 19, 2001
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December 22 (a), 2000
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December 22 (b), 2000
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December 5, 2000
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November 7, 2000
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October 25, 2000
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October 17, 2000
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October 2, 2000
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September 25, 2000
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July 17, 2000
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July 14, 2000
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July 12, 2000
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July 7, 2000
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July 5, 2000
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July 4, 2000
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June 29, 2000
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June 7, 2000
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May 15, 2000
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May 10, 2000
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May 4 (a), 2000
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May 4 (b), 2000
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April 17, 2000
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April 7 (a), 2000
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April 7 (b), 2000
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March 23, 2000
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March 21, 2000
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March 15, 2000
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February 22, 2000
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February 21, 2000
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February 10, 2000
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February 9 (a), 2000
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February 9 (b), 2000
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February 1, 2000
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January 18, 2000
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Info Touch announces convertible debt financing
Burnaby, BC, March 17 2005
Info Touch Technologies Corp. (TSXV: IFT),
North America's leading provider of self-service bill payment and financial
services solutions, today announced that it has entered into an agreement with
GMP Securities Ltd. to act as its agent in connection with a private placement
of approximately $2,100,000 principle amount of convertible promissory notes
(the "Promissory Notes").
The Promissory Notes will mature on March 31, 2008 and will accrue
interest at the rate of 8.0% per annum. Interest will only be payable on
maturity, redemption or conversion of the Promissory Notes. The Promissory
Notes will be a direct, unsecured obligation of the Company, and ranking
equally with all other unsecured subordinated indebtedness.
After the first anniversary of the closing date and prior to maturity,
the Company may at its option; i) convert the Promissory Notes into common
shares in the capital of the Company at the conversion price, or ii) redeem
the promissory notes, in whole or in part, from time to time, at par plus
accrued and unpaid interest, provided that the holders on receipt of a notice
of redemption may elect to convert the portion of the Promissory Notes subject
to the redemption into common shares at the conversion price in effect at the
time of conversion.
The conversion price of the principal amount of Promissory Notes
outstanding shall, from time to time, be the lower of $0.90 and market value
of the Company's common shares. If at the maturity date the conversion price
equals at least $0.90, then the Promissory Notes will automatically convert
into common shares at the conversion price. If at the maturity date the
conversion price is less than $0.90, then, at the election of the Company:
i) the promissory notes shall convert into common shares at the conversion
price; ii) the Company shall repay the outstanding principal and interest
owing under the Promissory Notes, or iii) the Company shall repay part of the
outstanding principal and interest owing under the Promissory Notes and the
balance shall be converted into common shares, in such proportion as may be
determined by the Company.
The net proceeds of the offering shall be used by the Company for working
capital purposes.
The offering is scheduled to close on or about March 31, 2005 and is
subject to certain conditions including, but not limited to, the receipt of
all necessary approvals including the approval of the TSX Venture Exchange.
The promissory notes will be subject to resale restrictions for a period of
four months pursuant to applicable securities laws.
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.
About Info Touch
Info Touch Technologies, a strategic investment of Hewlett Packard, is
building the "TIO Network" the largest and most convenient national
(multi-retailer) network of financial services kiosks for the non-banked
consumer marketplace. The company leverages core competencies such as
self-service bill payment processing, financial services aggregation and
automation to build create financial viability for its network locations. Info
Touch's Premiere (powered by Surfnet) is the preferred software platform for
the delivery of automated services such as bill payment, money transfer,
digital merchandising, PIN dispensing for pre-paid products and services, maps
and directions, check cashing and electronic coupons. Info Touch's clients
include: Circle K, ExxonMobil, Alimentation Couche-Tard, Speedway Super
America, Cricket Communications, Memphis Light Gas and Water (MLGW) and Qwest
Communications. Visit www.infotouch.net.
For further information:
Jose Jaime Guerrero, Chief
Financial Officer, Info Touch Technologies
Info Touch Technologies
Tel: (604) 298-4636,
Ext. 222
Toll Free: (888) 679-3322
Email: pr@infotouch.net;
John Lewis,
Business Development
Info Touch Technologies
Tel: (416) 364-2266, Toll
Free: 1-877-600-6001
Email: jrlewis@infotouch.net
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy.
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