Voice Mobility Closes Cdn$13 Million Equity Financing

Proceeds to Fuel Growth Of Company's Unified Communications Platform



Apr 04, 2001, 01:00 ET from Voice Mobility International, Inc.

    VANCOUVER, April 4 /PRNewswire/ - Voice Mobility International, Inc.
 (OTCBB: VMII and FWB: VMY), the developer of the Unified Communications(TM)
 software suite, announced today that it has closed the sale of an aggregate of
 6.5 million Special Warrants at a purchase price of Cdn$2.00 per Special
 Warrant. The sale results in gross proceeds to the Company of Cdn$13 million.
     "In today's volatile equity markets, it is a significant accomplishment
 to have successfully placed this offering with new institutional investors,"
 said Voice Mobility's Chief Executive Officer Jay Hutton. "We are delighted
 with the market's endorsement of our business strategy and its belief that the
 unified communications sector is on the verge of significant growth."
     Proceeds from the offering will be used to expand global sales and
 marketing activities, for research and development of Voice Mobility's current
 and "Next Generation" platform, working capital and potential acquisitions.
 "With our financing in place, we will continue with our aggressive growth
 strategy and support our customers as they launch our unified communications
 platform," added Mr. Hutton.
     Each Special Warrant entitles the holder to acquire, without payment of
 any additional consideration, one Unit, each Unit consisting of one share of
 Common Stock of the Company and one-half of one share Warrant. Each whole
 share Warrant entitles the holder to purchase an additional share of Common
 Stock at an exercise price of Cdn$2.25 for a period of two years from the
 closing date. A registration statement relating to the resale of the
 underlying Common Stock and share Warrants will be filed with the U.S.
 Securities and Exchange Commission and a prospectus to qualify the issuance of
 the Common Stock and Warrants will be filed with securities regulatory
 authorities in Canada.
     Of the gross proceeds from the Special Warrant private placement,
 Cdn$11.3 million has been placed in escrow, with the release of such funds to
 the Company conditional upon the Company satisfying certain conditions. In the
 event certain such conditions are not satisfied by October 3, 2001, the
 holders of such escrowed securities shall have the option to require the
 Company to repurchase the escrowed Special Warrants at the original purchase
 price.
     Loewen, Ondaatje, McCutcheon Limited, of Toronto, Canada, acted as Lead
 Agent and Acumen Capital Finance Partners Limited and Paradigm Capital Inc.
 acted as co-Agents in the private placement.
 
     About Voice Mobility
     --------------------
     Voice Mobility International, Inc. is the developer of the Unified
 Communications software suite. The suite features a "Find-me Follow-me"
 application that makes it possible for all voice, pager and fax calls to reach
 a user through a single number. The suite also simplifies voice, fax and email
 messages by collecting them in a single mailbox. The system converts these
 voice and fax messages to sound or image files that can be retrieved using any
 email program or web service. This means that they can be listened to, viewed,
 stored, redirected and managed using a personal computer, wireless device or
 telephone. Voice Mobility markets its software suite to telephone companies,
 competitive local exchange carriers, application service providers, Internet
 service providers and wireless service providers. Further information about
 Voice Mobility can be found at www.voicemobility.com.
 
     FORWARD-LOOKING (SAFE HARBOR) STATEMENT
     This news release contains forward-looking statements that involve risks
 and uncertainties including, but not limited to, future sales, product demand,
 growth of the unified messaging industry, competition, the effect of economic
 conditions and technological difficulties and other risks detailed in Voice
 Mobility's filings with the U.S. Securities and Exchange Commission.
 
 

SOURCE Voice Mobility International, Inc.
    VANCOUVER, April 4 /PRNewswire/ - Voice Mobility International, Inc.
 (OTCBB: VMII and FWB: VMY), the developer of the Unified Communications(TM)
 software suite, announced today that it has closed the sale of an aggregate of
 6.5 million Special Warrants at a purchase price of Cdn$2.00 per Special
 Warrant. The sale results in gross proceeds to the Company of Cdn$13 million.
     "In today's volatile equity markets, it is a significant accomplishment
 to have successfully placed this offering with new institutional investors,"
 said Voice Mobility's Chief Executive Officer Jay Hutton. "We are delighted
 with the market's endorsement of our business strategy and its belief that the
 unified communications sector is on the verge of significant growth."
     Proceeds from the offering will be used to expand global sales and
 marketing activities, for research and development of Voice Mobility's current
 and "Next Generation" platform, working capital and potential acquisitions.
 "With our financing in place, we will continue with our aggressive growth
 strategy and support our customers as they launch our unified communications
 platform," added Mr. Hutton.
     Each Special Warrant entitles the holder to acquire, without payment of
 any additional consideration, one Unit, each Unit consisting of one share of
 Common Stock of the Company and one-half of one share Warrant. Each whole
 share Warrant entitles the holder to purchase an additional share of Common
 Stock at an exercise price of Cdn$2.25 for a period of two years from the
 closing date. A registration statement relating to the resale of the
 underlying Common Stock and share Warrants will be filed with the U.S.
 Securities and Exchange Commission and a prospectus to qualify the issuance of
 the Common Stock and Warrants will be filed with securities regulatory
 authorities in Canada.
     Of the gross proceeds from the Special Warrant private placement,
 Cdn$11.3 million has been placed in escrow, with the release of such funds to
 the Company conditional upon the Company satisfying certain conditions. In the
 event certain such conditions are not satisfied by October 3, 2001, the
 holders of such escrowed securities shall have the option to require the
 Company to repurchase the escrowed Special Warrants at the original purchase
 price.
     Loewen, Ondaatje, McCutcheon Limited, of Toronto, Canada, acted as Lead
 Agent and Acumen Capital Finance Partners Limited and Paradigm Capital Inc.
 acted as co-Agents in the private placement.
 
     About Voice Mobility
     --------------------
     Voice Mobility International, Inc. is the developer of the Unified
 Communications software suite. The suite features a "Find-me Follow-me"
 application that makes it possible for all voice, pager and fax calls to reach
 a user through a single number. The suite also simplifies voice, fax and email
 messages by collecting them in a single mailbox. The system converts these
 voice and fax messages to sound or image files that can be retrieved using any
 email program or web service. This means that they can be listened to, viewed,
 stored, redirected and managed using a personal computer, wireless device or
 telephone. Voice Mobility markets its software suite to telephone companies,
 competitive local exchange carriers, application service providers, Internet
 service providers and wireless service providers. Further information about
 Voice Mobility can be found at www.voicemobility.com.
 
     FORWARD-LOOKING (SAFE HARBOR) STATEMENT
     This news release contains forward-looking statements that involve risks
 and uncertainties including, but not limited to, future sales, product demand,
 growth of the unified messaging industry, competition, the effect of economic
 conditions and technological difficulties and other risks detailed in Voice
 Mobility's filings with the U.S. Securities and Exchange Commission.
 
 SOURCE Voice Mobility International, Inc.