MPACT Immedia Obtains $13 Million in Financing

Electronic commerce firm MPACT Immedia said it has entered into an agreement with a syndicate of underwriters to issue 2 million Special Warrants at $6.50 per share in a private placement for gross proceeds of $13 million Canadian.


The syndicate is led by CIBC Wood Gundy Securities Inc. and includes Midland
Walwyn Capital Inc. and Eagle & Partners Inc.


Each special warrant will be exercisable into one common share of MPACT
Immedia for no additional consideration. The private placement is expected to
close on or about May 14, and is subject to regulatory approval.


The Special Warrants and the common shares issuable upon the exercise of the
Special Warrants have not and will not be registered under the United States
securities laws and may not be offered or sold in the United States, except
pursuant to an exemption from registration, the company said.


MPACT said it plans to use the net proceeds to fund the deployment of its
payment processing product, BuyWay, following the recent announcements with
Compaq Computer Corp. and Microsoft. In addition, the funds from the sale of
the Special Warrants will support the acquisition strategy of the company.


MPACT offers both EDI commerce and Internet commerce products and services
through its offices in Montreal, Livonia (Michigan), and Toronto.

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