Counterpath (CPAH) Announces Private Placement of 284.9K Shares

CounterPath Corporation (NASDAQ: CPAH), a global provider of award-winning Unified Communications and Collaboration (UCC) solutions for enterprises and service providers, is pleased to announce a non-brokered brokered private placement of 284,902 shares of common stock (each, a "Share") of the Company at a price of US$3.51 for gross proceeds of US$1,000,006 (the "Offering").

The net proceeds from the Offering will be used to pay down Company debt and for general corporate purposes.

Insiders of the Company will subscribe for an aggregate of 142,451 Shares. The Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance to the insiders will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 because neither the fair market value of the subject matter of the transaction nor the consideration paid exceeded 25% of the Company's market capitalization.

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