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Xentel | | . | Press Release - April 27, 2000 |
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Xentel DM Concludes $3 Million Financing
CALGARY, ALBERTA, April 27, 2000 - XENTEL DM Incorporated (CDNX:XDM) reports that it has concluded its prospectus financing which raised aggregate gross proceeds of $2,987,600. This financing was comprised of special warrants issued in December 1999 and common shares issued today for $.80 per share. "This new equity has enabled the Company to complete the integration of our U.S. acquisitions," said Michael Platz, Chairman, XENTEL DM Incorporated. "I am pleased that, in a short time frame, we have significantly reorganized the U.S. business to take advantage of operational synergies and cost savings. This involved the closing of 110 out of 126 acquired sales offices and restructuring the 16 remaining offices to model the management strategies and proven technology systems of our existing entertainment operations. The Company's financial results for the first quarter of 2000 should highlight an improvement in financial performance attributable to these efforts." XENTEL DM is one of North America's leading producers of family-oriented live entertainment, staging 400 events across North America in 1999 and planning to stage over 500 in 2000. XENTEL's success results from its proprietary sales approach. Its technologically advanced teleservices and sophisticated customer databases enable XENTEL to effectively pre-sell its events, thereby maximizing sales, increasing revenue and minimizing the number of unsold event tickets. XENTEL has over 300 clients and 2,500 employees in 26 offices across North America and is traded on the Canadian Venture Exchange under the symbol XDM. The Canadian Venture Exchange has neither approved nor disapproved of the contents of this announcement. For further information, please contact:
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