Pictorius Incorporated Closes $3.5 Million Financing Deal
Secured Financing Allows Pictorius to Expand Markets and Continue to Grow
Friday August 20, 1997 – Halifax, Nova Scotia, Canada – Pictorius
Incorporated, has announced the initial closing of $3.5 million dollars of
a $6 million dollar offering by way of a confidential offering memorandum.
In connection with the Offering, the Company has signed a financing
agreement with McLean Watson SOFTECH Fund. This Fund invests exclusively in
leading private software companies. In addition to strong financial
backing, McLean Watson brings valuable software industry experience and
affiliations. McLean Watson was instrumental in the sale of Montreal-based
Softimage to Microsoft Corporation.
The completion of the initial closing of the offering and SOFTECH’s
participation consolidates Pictorius financial base and puts it in a strong
position for future growth. Pictorius plans to use this investment to
broaden their current marketing and sales reach by expanding into new
markets.
Based in Halifax, Nova Scotia, Canada, Pictorius Incorporated is the
leading supplier of Intranet development tools for the corporate
marketplace. Pictorius’ iNet Developer is a complete Intranet development
solution designed to allow multiple users in corporate environments the
ability to easily create powerful Intranet sites.
(http://www.pictorius.com),
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For further information, please contact:
Andrew Clarke
aclarke@pictorius.com
902 492 2880 ext. 248
Iain McGlashan / Public Relations / Pictorius Incorporated / 2000
Barrington St. Suite 401 Halifax, Nova Scotia, Canada, B3J 3K1 /
imcglashan@pictorius.com / Tel: 902 492 2880 Ext.267 / Fax: 902 492 3409 /
http://www.pictorius.com
