Toronto Stock Exchange Symbol: SXC
SYSTEMS XCELLENCE INC. ANNOUNCES $17.5 MILLION BOUGHT DEAL TREASURY OFFERING OF COMMON SHARESTHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED OR INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES.MILTON, Ontario – November 9, 2005 - Systems Xcellence Inc. (the “Corporation”) announced today that the Corporation has entered into a bought deal agreement with MGI Securities Inc. (“MGI”) on behalf of a syndicate of underwriters led by MGI (the “Underwriters”). All figures are in Canadian dollars. Under the agreement, the syndicate will purchase from the Corporation 7,000,000 common shares of the Corporation (“Common Shares”) at a price of $2.50 per Common Share. In addition, the Underwriters will have the option, exercisable on or prior to the filing of the final short form prospectus, to purchase up to an aggregate of 2,000,000 additional Common Shares from the Corporation at the offering price and on the same terms and conditions as set forth herein. Proceeds from the agreement will be used for general corporate purposes and to support the Company’s growth initiatives. In connection with the offering, the Corporation will file a short form prospectus in each of the provinces of Canada. The offering is expected to close on or about November 29, 2005. The transaction is subject to the receipt of all necessary regulatory approvals. About Systems Xcellence Inc. Systems Xcellence (SXC) is headquartered in Milton, Ontario with offices and processing centres in Lombard, Illinois, Warminster, Pennsylvania, Scottsdale, Arizona and Victoria, British Columbia. Through its SXC Health Solutions, Inc subsidiary, SXC is a leading provider of healthcare information technology solutions and services to the U.S. healthcare benefits management industry. The company’s product offerings and solutions combine a wide range of software applications, application service provider (ASP) processing services and professional services, designed for many of the largest organizations in the pharmaceutical supply chain, such as pharmacy benefit managers, managed care organizations, independent, chain and mail-order pharmacies and other healthcare intermediaries. SXC can be found on the Internet at www.sxc.com. This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about the Company's business are more fully discussed in the Company's Annual Information Form. For more information, please contact:
|