VANCOUVER, British Columbia, April 11, 2003 -- Stockgroup Information Systems Inc. (OTCBB:SWEB) (TSX venture Exchange:SWB), a financial media and technology company reported today that they have retained First Associates Investments Inc. as investment banker and have signed a term sheet for the underwriting of a C$2.0MM best efforts offering. Each unit will consist of one share and one share purchase warrant and the unit has been priced at C$0.40. Two warrants entitle the investor to purchase one additional common share at a price of C$0.80 for 12 months. This offering is only available to British Columbia and Alberta residents of Canada and the shares will only be eligible to be traded on the TSX Venture exchange.
"We are pleased to have First Associates support to help us grow the company and expand our sales and marketing initiatives,' stated Marcus New, Chairman and CEO of Stockgroup. 'Our company continues to achieve milestones on a monthly basis by adding new industry resellers like The Associated Press, and winning new large customers like National Bank Financial, Union Bank Of California and MSN.ca. This financing will allow us to add additional sales resources to grow the Company more rapidly."
About First Associates
First Associates Investments Inc. is a full service investment dealer and member of the Investment Dealers Association of Canada, the Toronto Stock Exchange, and CIPF. First Associates has over 500 employees in 11 offices across Canada.
About Stockgroup
Stockgroup Information Systems Inc. is a financial media and technology company. It is a leading provider of private labeled financial software and content solutions to media, corporate and financial services companies. Stockgroup employs proprietary technologies that enable its clients to provide financial data streams and news combined with cutting-edge fundamental, technical, productivity and disclosure tools to their customers, shareholders and employees at a fraction of the cost of traditional internal methods. Stockgroup is also a provider of Public Company Disclosure and Awareness Products for publicly traded companies. Its financial web sites, including www.stockhouse.com, www.stockhouse.ca and www.smallcapcenter.com, are state-of-the-art online research centers for the investment community. To find out more about Stockgroup (OTCBB:SWEB) (TSX Venture Exchange:SWB), visit our website at www.stockgroup.com
This release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements.
This release has neither been approved or disapproved by the TSX Venture Exchange