Canada NewsWire, Wednesday, June 21st, 2006.
J.L. Albright Venture Partners ("JLA Ventures") announced today that two of its managed funds, J.L. Albright IV Venture Fund L.P. and J.L. Albright IV Parallel Venture Fund L.P (collectively "J.L. Albright IV Venture Funds"), have acquired 4,848,324 Common Shares and 1,034,029 Common Shares respectively of publicly traded Nstein Technologies Inc. ("Nstein"). Aggregate consideration for the purchase of the Common Shares was Cdn. $5,000,000. The issuance of the Common Shares to J.L. Albright IV Venture Funds was part of a larger private placement of Common Shares by Nstein that closed on June 13, 2006, raising gross proceeds of approximately Cdn. $10,000,000 (the "Private Placement"). As a result of its purchase of Common Shares and warrants from Nstein pursuant to the Private Placement, J.L. Albright IV Venture Funds now own and control an aggregate of 5,882,353 Common Shares, representing 18.9% of the issued and outstanding Common Shares of Nstein. An early warning report will be filed with the applicable securities regulatory authorities. A copy of such report may be obtained from Carla Aguiar by contacting J.L. Albright Venture Partners at the address below. The purpose of J.L. Albright IV Venture Funds participation in the Private Placement is for investment purposes. Nstein develops and markets leading edge software solutions for analyzing vast amounts of unstructured data in virtually all languages. Nstein's linguistic based platform collects, organizes, analyzes, cross examines, shares and translates data from any sources, in real time. Nstein's enterprise search and information access solutions transform reactive decision making into a high impact proactive and even predictive process, and solve mission critical problems. Nstein has developed tailored solutions for clients in homeland security & intelligence and e publishing markets, as well as for large enterprises and government organizations. Nstein is listed on the TSX Venture Exchange under the symbol EIN-VN. Nstein's main office is located at 75 Queen Street, Suite 4400, Montreal, Quebec, H3C 2N6. Nstein's web site is located at www.nstein.com.
JLA Ventures' a private venture capital firm, is a leading investor in technology companies at all stages of growth. The firm has offices in Toronto, Ontario and Montreal, Quebec. JLA Ventures' past and current portfolio companies include: Triple G Systems (acquired by General Electric), Pixstream (acquired by Cisco), Basis100 (acquired by First American Corporation), Fun Technologies (acquired by Liberty Media Corporation), Servicesoft Technologies (acquired by Broadbase), Isolation Systems (acquired by Shiva), Descartes Systems Group (NASDAQ:DSGX), Bioscrypt (TSX:BYT), Q9 Networks (TSX:Q), Quickplay Media, MusicIP, HealthUnity, and Planeteye. JLA Ventures invests primarily in emerging Internet, E-Commerce, Networking and Software companies with exceptional prospects for growth, superior technology, and a sustainable competitive advantage. They select businesses that possess strong fundamentals, superior products and/or services. JLA Ventures' partners understand the challenges faced by emerging companies, as they strive to grow and compete in the global market. They partner with investee companies and work alongside management providing the strategic and financial resources need to help management's vision become a reality. JLA Ventures' does not seek control, but rather seeks to make a significant contribution in areas that are essential to instilling, maintaining, and managing dynamic growth. Involvement is predicated on strong working relationships with company principals and management, mutually shared objectives and a thorough working knowledge of the business.
For further information on J. L. Albright Venture Partners visit www.jlaventures.com
For further information: J.L. ALBRIGHT VENTURE PARTNERS, Suite 4440,
P.O. Box 215, TD Canada Trust Tower, BCE Place, 161 Bay Street Toronto,
Ontario M5J 2S1 Telephone: (416) 367-2440 Facsimile: (416) 367-4604 E-mail:
This email address is being protected from spam bots, you need Javascript enabled to view it
Website: www.jlaventures.com
|
