ESI Entertainment Systems Inc. ("ESI" or the "Company") (TSX: ESY) announced that the Initial Public Offering of 3,333,400 of its common shares at a price of $3.00 CDN per share, has closed. Shares commenced trading on March 30th, 2006 on the Toronto Stock Exchange under the symbol "ESY".
The Offering was conducted by a syndicate led by Desjardins Securities Inc., which included CIBC World Markets Inc., Canaccord Capital Corporation and GMP Securities LP. ESI has granted the agents a 30 day option to purchase up to an additional 500,010 common shares to cover over any allotments at a price of $3.00 per share.
About ESI Entertainment Systems Inc.
ESI is a provider of products and services to the international gaming industry through its three principal subsidiaries, Citadel Commerce Corp., ESI Integrity Inc. and PlayLine Inc. ESI's products and services, which primarily consist of payment processing, transaction monitoring and turnkey gaming platforms, are deployed in the on-line and land based gaming segments.
This press release is not an offer of securities for sale in the United States. The Company's shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This news release contains forward-looking statements concerning the anticipated Offering, which statements can be identified by the use of forward-looking terminology such as "expect" or "proposed", or the negative thereof or any other variations thereon or comparable terminology referring to future events or results. Forward-looking statements are statements about the future and are inherently uncertain, and the actual events or results could be materially different than those anticipated in those forward-looking statements as a result of numerous factors, including without limitation, the fact that the completion of the Offering is subject to customary closing conditions and prevailing market conditions in the capital markets, and the concomitant risk that the Offering may not be successfully completed consistent with the terms outlined above, or at all; as well as a description of other risks and uncertainties affecting the Company and its business, as contained in ESI's prospectus, any of which could cause actual events or results to vary materially from ESI's anticipated future results. Forward- looking statements are based on beliefs, opinions and expectations of ESI's management at the time they are made, and ESI does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change.
For further information: ESI Contact: Dan Parmar, C.A., Chief Financial Officer, Telephone: (604) 299-6922 ext 375, dparmar@esi.ca
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