New funding to be used to expand product development, marketing and business partner programs related to new Reg.FD guidance and web disclosure.
Q4 Web Systems, a leading provider of on-demand software for capital market disclosure, announced today the completion of a $1.2 million cdn round of financing, bringing total funding to $3 million since 2006. This most recent round comprises both institutional and private investors. Financing will be used to fund product development, marketing activities and the expansion of channel partner programs. Q4 was advised by Morrison Park Advisors.
"I’m very pleased to close this latest round of funding in this current market climate“ said Darrell Heaps, CEO of Q4, “we continue to receive validation for our business model from the addition of new clients, business partners and our ability to attract investment. This latest round of funding will enable us to continue scaling the business while we roll-out our next generation platform in 2009.”
Q4’s web-based solutions enable public companies to control regulatory and market risks by automating all processes associated with managing, distributing and auditing corporate disclosure. Since 2006, Q4 has acquired a significant group of issuers listed on NYSE, NASDAQ and TSX and has experienced an increase of more than 650% in subscriber revenue growth.
“ Recent changes to Reg. FD have enabled public companies to utilize our software and web disclosure to distribute material information, including press releases, directly to investors and other stakeholders through the web - without requiring newswire dissemination,“ said Mr. Heaps. “This regulatory guidance is a significant change to how material information is distributed to the market. Not only does it lower costs for issuers, but it also creates opportunities for a number of companies, of which we are one. This investment is a validation of the market potential for our platform and web disclosure in general.“
"Since its inception Q4 has been at the leading edge in helping companies manage their disclosure related risks and liabilities while at the same time dramatically lowering costs. This financing ensures that they will continue to drive innovation in technology for corporate disclosure . The people of Q4 have a deep understanding of the needs of issuers and their audiences as well as regulatory requirements - they reflect this in their products. We were excited to be involved with Q4 in this round and we anticipate their continued growth." David Santangeli, Managing Director, Morrison Park Advisors.
About Q4 Web Systems (Q4)
Q4 is a leading provider of on-demand software for capital market disclosure. Their web-based solutions enable public companies to control regulatory and market risks by automating all processes associated with managing, distributing and auditing corporate disclosure. Issuers listed on major North American stock exchanges rely on Q4 to provide workflow, collaboration and distribution solutions that result in high quality disclosure along with reduced risks and distribution costs. To learn more please visit www.q4websystems.com or Q4's blog at www.q4blog.com .
About Morrison Park Advisors (MPA)
MPA is an independent investment banking and financial advisory firm. MPA provides clients with a full range of investment banking and financial advisory services. From assisting growing companies to navigate financial markets for the first time, to highly technical assignments for major companies, MPA find ways to deliver value to corporations, private business owners, trusts, governments and broader public sector clients. www.morrisonpark.ca