ZI CORPORATION
NEWS RELEASE
For immediate
release (Calgary, Alberta)
April 21, 1999
ZI CORPORATION
COMPLETES PRIVATE PLACEMENTS
Zi Corporation (TSE:
ZIC; NASDAQ: ZICA) announces that it has closed private placements
in the amount of approximately CAD$3.7 million. Pursuant to
the private placements, Zi Corporation has issued 1,950,000
Units at US$1.25 per Unit. Each Unit consists of one common
share and one common share purchase warrant, where one warrant
is exercisable into one further common share upon payment of
US$1.75 per share for a period of 36 months. Proceeds from the
private placements will be used by Zi Corporation to finance
ongoing operations.
The securities described
in this announcement have not been registered under the United
States Securities Act of 1933, as amended (the "1933 Act"),
or the securities laws of any state of the United States. Such
securities may not be offered or sold in the United States or
to a U.S. person, as that term is defined in Regulation S under
the 1933 Act, nor may the warrants be exercised in the United
States or by or on behalf of a U.S. person, absent registration
under the 1933 Act and applicable state securities laws or the
availability of an applicable exemption from such registration.
Zi Corporation’s
goal is to make modern electronic technology more accessible
to people in a way that is consistent with their language and
culture. By connecting technology and language, Zi Corporation
brings smart text input to the mass market for devices such
as mobile phones, TV set top boxes, computers and information
appliances.
NEITHER THE TORONTO
STOCK EXCHANGE NOR NASDAQ HAVE APPROVED OR DISAPPROVED OF THE
INFORMATION CONTAINED HEREIN.
FOR FURTHER INFORMATION,
PLEASE CONTACT:
Zi Corporation
Carol Kim
Manager, Investor/Media Relations
(403) 233-8875
website: http://www.zicorp.com/
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