TORONTO, CANADA - June 4, 2009 - Cyberplex Inc. (the "Company") (TSX - "CX") announced today that it has closed its previously announced public offering of common shares for gross proceeds of $15 million. A total of 9,375,000 common shares were sold at a price of $1.60 per common share.

The offering was led by GMP Securities L.P. with a syndicate of underwriters including M Partners Inc., Paradigm Capital Inc., Genuity Capital Markets, Scotia Capital Inc. and Thomas Weisel Partners Canada Inc. The Company granted to the underwriters an over-allotment option, exercisable in whole or in part, for a period of 30 days from the closing date to purchase up to 1,406,250 additional common shares at a price of $1.60 per additional common share on the same terms and conditions of the offering, to cover over-allotments, if any, and for market stabilization purposes.

The common shares issued under the public offering were qualified by a short form prospectus filed with the securities regulatory authority in each province of Canada, other than Québec, and were not offered in the United States.

The Company intends to use the net proceeds of the offering for working capital and general corporate purposes and to pursue potential acquisitions of complementary services, technologies or businesses.  The timing, amount and allocation of actual expenditures will be based on various factors including the Company's growth, strategic initiatives entered into, potential acquisitions depending on size and scope, opportunistic business opportunities and research and development initiatives.  At this time, however, the Company has no definitive plans for the expenditure of the funds.

THE COMMON SHARES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM U.S. REGISTRATION REQUIREMENTS.

About Cyberplex Inc.

Cyberplex Inc. (www.cyberplex.com) is a leader in providing web advertising solutions, online customer acquisition strategies and technology development. The Company, through its subsidiaries, leverages its proprietary affiliate network, robust advertising relationships and experience, along with technology design, development and solutions specialists to develop and implement web-based programs and solutions that have a proven record in delivering results.

With over 14 years of experience serving Fortune 1000 clients including FTD, Xerox, Sony Canada, IAC, Atlantic Lottery Corporation, Vista Print, Aecon, Ontario Power Generation, Scotia Bank and the Royal Bank of Canada, Cyberplex is frequently the firm of choice for business leaders looking for effective and reliable online solutions. Cyberplex serves clients across Canada and the US and is headquartered in Toronto, Canada.

Forward-Looking Statements

This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements.

Except as required by applicable law, Cyberplex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise. The material factors and assumptions that were applied in making the forward-looking statements in this news release include, but are not limited to, being able to apply the net proceeds of the offering in the manner anticipated by the Company, including being able to identify potential acquisitions of complementary services, technologies or businesses. There are no definitive plans for the expenditure of the funds on the acquisitions of complementary services, technologies or businesses at this time and the Company provides no assurance that it will enter into an acquisition at any time or if at all. For additional information with respect to risks, uncertainties and assumptions, please also refer to the "Risk Factors" in the final short form prospectus dated May 28, 2009 filed on SEDAR at www.sedar.com under Cyberplex's profile. These forward-looking statements are made as of the date of this news release only and Cyberplex does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.

 

 

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