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11 December 2003
Workbrain Corporation Closes $46 Million Initial Public Offering
TORONTO, Dec.
11 /CNW/ - Workbrain Corporation (TSX: WB) announced today that the
previously announced initial public offering of 2,860,000 common shares of Workbrain
Corporation, at a price of $14.00 per share, has closed. In addition, the
option granted by Workbrain Corporation to the underwriters to purchase up
to an additional 429,000 common shares at the same price to cover
over-allotments, if any, and for market stabilization purposes, has been
exercised in full.
RBC Capital Markets is the sole bookrunner for the offering and, with CIBC
World Markets Inc., is co-lead manager of the underwriting syndicate. The
other members of the syndicate are National Bank Financial Inc., Griffiths
McBurney & Partners and Sprott Securities Inc.
"Workbrain is excited to embark on our next phase of growth, supported
by the proceeds from this offering," said Workbrain President and CEO
David Ossip. "All of our employees remain focused on our vision of
developing the most compelling workforce management solutions for the large
enterprise market."
About Workbrain corporation
Workbrain develops, markets, implements and supports software that helps
large organizations optimally deploy and manage their workforces.
Workbrain's solutions automate complex workforce management processes such
as labour forecasting, employee schedule optimization, time and attendance,
workforce analytics and employee self-service. Workbrain is recognized by
independent industry analysts as a leading provider of enterprise workforce
management software.
For further
information, contact
Brad Elder
Director of Communications
Workbrain Corporation
T: 416.421.6700 x2267
belder@workbrain.com
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