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CounterPath Announces Exercise of Warrants for Proceeds of $750,000
Vancouver, BC, Canada — July 28, 2011 – CounterPath Corporation (“CounterPath” or the “Company”) (OTCBB: CPAH) (TSX-V: CCV), an award-winning provider of desktop and mobile VoIP software products and solutions, today announced that it has received total proceeds of $750,000 from the exercise of 833,334 warrants issued pursuant to a private placement that closed October 29 2009. Accordingly, the Company issued 833,334 shares of common stock (“Shares”) in exchange for the exercised warrants. The warrants were exercisable at a price of $0.90 per share until October 29, 2011.
The proceeds received by CounterPath from the exercise of the warrants will be used to expand sales and marketing efforts, working capital, and general corporate purposes.
None of the securities issued have been registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any State where such offer, solicitation, or sale would be unlawful.
CounterPath Corporation is an award-winning provider of innovative desktop and mobile VoIP software products and solutions. The Company's product suite includes SIP-based softphones, server applications and Fixed Mobile Convergence (FMC) solutions that enable service providers, enterprises and Original Equipment Manufacturers (OEM) to cost-effectively integrate voice, video, presence and Instant Messaging (IM) applications into their VoIP offerings and extend functionality across both fixed and mobile networks.
CounterPath's customers include some of the world's largest telecommunications service providers and network equipment providers including AT&T, Verizon, BT (British Telecommunications PLC), Mobilkom Austria, Avaya, BroadSoft, Cisco Systems, Metaswitch Networks and Mitel.
For more information please visit www.counterpath.com.
Chief Financial Officer
+1.604.320.3344 ext 1114
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.