Exhibit 99.1
Stockgroup
STOCKGROUP COMPLETES PRIVATE PLACEMENT
2001 Year End Conference Call Set For Wednesday at 4:15pm
San Francisco, CA - March 26, 2002 -- Stockgroup Information Systems Inc.,
(OTCBB: SWEB) is pleased to announce that it has completed a round of new
funding with a private investor group. The financing will be used to strengthen
the balance sheet of the company and further support the company's growth
strategy.
The financing is $400,000 comprised of 2,000,000 units, which consist of one
share and one share purchase warrant. The shares are priced at $0.20 and the
warrants are exercisable for one year at a price of $0.25. The Company has
agreed to register the units under a registration statement.
"In the present investment climate, we are pleased to have the support of this
investor group to help us grow the company and expand our sales and marketing
initiatives," stated Marcus New, Chairman and CEO of Stockgroup. "Our company
continues to achieve milestones on a monthly basis including generating positive
cash flow, adding new industry resellers like The Canadian Press with over 100
publishing affiliate companies, and winning new large customers like Credential
Group with over 450 credit union partners. This financing will allow us to grow
more rapidly."
The Company also announced today that Craig Faulkner will be resigning at the
end of the month from his role as Chief Technology Officer to pursue other
interests. Mr. Faulkner will remain with the company as a director.
"Everyone at Stockgroup is very appreciative of the role Craig played in
building the company over the past 6 years. Craig's drive, ambition, and vision
were one of the main drivers behind the Company's shift from an advertising
model to licensing our financial content and software. We want to thank Craig
for his tremendous contribution, wish him all the best in his future endeavors
and look forward to his continued contribution as a member of the board of
directors." Stated Marcus New, CEO.
Further information will be available on the forthcoming 8-K to be filed with
the SEC.
The Company will also be hosting its 2001 Year End conference call on Wednesday
March 27, 2002 at 4:15pm EST, web cast at www.vcall.com. Analysts and Media can
register to be on the live Q&A by phoning 800-650-1211 ext 180 to register.
ABOUT STOCKGROUP
Stockgroup Information Systems Inc. is a financial media and technology company.
It is a leading provider of private labeled financial content and software
solutions to media, corporate, and financial services companies. Stockgroup
employs proprietary technologies which enable its clients to provide financial
data streams and news combined with cutting edge fundamental, technical,
productivity, and disclosure tools to their customers, shareholders, and
employees at a fraction of the cost of traditional internal methods. Stockgroup
is also a provider of Internet communication and disclosure products for
publicly traded companies. Its financial Web site www.smallcapcenter.com is a
state of the art online research center for the investment community. To find
out more about Stockgroup (OBB: SWEB), visit our Website at www.stockgroup.com
Contact:
Stockgroup Information Systems Inc.
Marcus New, CEO
1.800.650.1211
ir@stockgroup.com
This release contains "forward looking statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act
of 1934. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, goals,
assumptions or future events or performance are not statements of historical
fact and may be "forward looking statements." Forward looking statements are
based on expectations, estimates and projections at the time the statements are
made that involve a number of risks and uncertainties which could cause actual
results or events to differ materially from those presently anticipated.