Wizzard Software (NYSE Amex: WZE) announced that effective June 19,
2009, Wizzard Software Corporation, a Colorado corporation (the
“Company”), executed a Securities Purchase Agreement (the “Purchase
Agreement”) by which one institutional investor (the “Subscriber”)
agreed to purchase from the Company 1,200,000 shares of the Company’s
one mill ($0.001) par value common stock at a price of $0.50 per share
(the “Shares”). At closing the Shares are to be issued pursuant to the
Company’s effective registration Statement on Form S-3 (Securities and
Exchange Commission File No. 333-158996).
“These funds from our long time institutional investor will be used for
working capital as Wizzard executes its business plan, including its new
Apps monetization of its podcasting network, and works towards
profitability and less reliance on selling stock to fund ongoing
business operations in the future.”
The closing of the offering is expected to take place subject to the
satisfaction of customary closing conditions and approval by NYSE Amex.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Wizzard Software
Founded in 1996, Wizzard Software has become a leader in the speech
technology application market. Wizzard architects solutions to business
problems using its expertise in consulting, speech development tools and
building speech based applications for the Desktop and Internet. Wizzard
has achieved global recognition because of its expertise with voice
communication whether it is via computer or telephone. Wizzard’s
successes have led to expanding speech technology opportunities in
government and commercial sectors, including several healthcare industry
products and services. Most recently, Wizzard Software entered the
exciting new realm of digital media and is already the world’s largest
distributor of digital media via RSS (podcasts). For more information,
please visit www.wizzardsoftware.com
and www.wizzard.tv.
Legal Notice
Legal Notice Regarding Forward-Looking Statements: "Forward-looking
Statements" as defined in the Private Securities litigation Reform Act
of 1995 may be included in this news release. These statements relate to
future events or our future financial performance. These statements are
only predictions and may differ materially from actual future results or
events. We disclaim any intention or obligation to revise any
forward-looking statements whether as a result of new information,
future developments or otherwise. There are important risk factors that
could cause actual results to differ from those contained in
forward-looking statements, including, but not limited to risks
associated with changes in general economic and business conditions,
actions of our competitors, the extent to which we are able to develop
new services and markets for our services, the time and expense involved
in such development activities, the level of demand and market
acceptance of our services, changes in our business strategies and acts
of terror against the United States.
Investor Relations Contact:
Arthur Douglas & Associates
Art
Batson, 407-478-1120
