Science & Technology
Science and Technology
Science and Technology
Tue, July 7, 2009
Mon, July 6, 2009
Fri, July 3, 2009 Voice Mobility International, Inc.: Voice Mobility Closes Agreement With Debt Holders to Exchange Debt for Equity
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2009) - Voice Mobility International, Inc. (TSX:VMY)(OTCBB:VMII)(FRANKFURT:VMY), a Vancouver-based developer and provider of carrier and enterprise messaging solutions, is pleased to announce that, as of June 30, 2009, it closed the exchange transaction originally announced on April 17, 2009.
On June 30, 2009, we issued 19,250,280 convertible preferred shares to seven persons in exchange for the elimination of an aggregate amount of CAN$6.7 million in outstanding promissory notes. The convertible preferred shares were issued at a rate of CAN$0.35 per preferred share and are convertible into common shares on a one for one basis.
At our annual and special meeting held on June 11, 2009, disinterested shareholders approved the exchange transaction and shareholders approved the alteration of our company's articles to increase the number of authorized preferred shares that may be issued by the directors in their discretion. As a result, we have filed the necessary documents with the Secretary of State of Nevada creating the new series of preferred shares which are convertible into common shares on a one for one basis, retractable by the holder following the ten year anniversary from the date of grant at CAN$0.35 per share and redeemable by the company at any time upon 30 days notice at CAN$0.35 per share.
The securities issued on the closing of the exchange agreement to the former holders of the promissory notes were not registered under the Securities Act of 1933 as amended (the "Act"), and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Act.
About Voice Mobility, Inc.
Voice Mobility develops and markets its unified communications product line to enterprise, campus and hosted customers. Our product line includes highly scalable Voicemail, Unified Communication, Fax Service, Interactive Voice Response, and Auto-Attendant applications, as well as unique features like Emergency Event Notification, Mobile Client functionality, Presence, Speech applications and Desktop integration with industry leading software providers. For more information, visit [ www.voicemobility.com ].
