WANTED Technologies Corporation announces secondary offering by major shareholders
QUEBEC CITY, Nov. 28, 2013 /CNW Telbec/ - WANTED Technologies Corporation (the "Corporation") (TSXV: WAN) announces that its shareholders, Desjardins Venture Capital L.P. ("Desjardins Venture Capital") and Desjardins-Innovatech L.P. ("Desjardins-Innovatech"), both limited partnerships of which Desjardins Venture Capital Inc. is the general partner, have entered into a bought-deal letter (the "Bought-Deal Letter") with GMP Securities L.P. and Desjardins Securities Inc. (the "Underwriters") pursuant to which the Underwriters have agreed to purchase, on a "bought-deal" basis, all of the Corporation's common shares (the "Common Shares") held by Desjardins Venture Capital and Desjardins-Innovatech (the "Secondary Sale"), representing approximately 37.44% of currently outstanding Common Shares.
As part of the Secondary Sale, and pursuant to the terms of the Bought-Deal Letter, the Underwriters will purchase and resell, on a private placement basis, (i) 5,513,252 Common Shares held by Desjardins-Innovatech, and (ii) 3,478,006 Common Shares held by Desjardins Venture Capital, representing all the Common Shares held by Desjardins-Innovatech and Desjardins Venture Capital.
Following the closing of the Secondary Sale, Desjardins-Innovatech and Desjardins Venture Capital will no longer hold any Common Shares.
Desjardins Venture Capital and Desjardins-Innovatech announced that they expect that the Closing of the Secondary Sale will occur on or about December 11, 2013, subject to customary closing conditions.
About WANTED Analytics™
WANTED Analytics™ helps recruiting organizations make better decisions faster with real-time business intelligence on jobs, employers, and talent. Analytics™ brings together, for the first time, years of hiring demand and talent supply data to create a true talent intelligence platform for hard-to-fill positions.
Clients in the staffing, HR, RPO, media, and government sectors use WANTED Analytics™ to find sales leads, analyze employment trends, gather competitive intelligence, forecast economic conditions, and source hard-to-fill positions.
About WANTED Technologies Corporation
WANTED Technologies (TSX-V:WAN) provides real-time business intelligence for the talent marketplace. Founded in 1999, the company's headquarters are in Quebec City, Canada, and it maintains a US-based subsidiary with primary offices in New York City. WANTED began collecting detailed Hiring Demand data in June 2005, and currently maintains a database of more than 800 million unique job listings. For more information or to sample WANTED's services, visit www.wantedanalytics.com.
WANTED is also the exclusive data provider for The Conference Board's Help Wanted OnLine Data Series®, the monthly economic indicator of Hiring Demand in the United States.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Any statement that appears prospective shall not be interpreted as such.
SOURCE Wanted Technologies Corp.