Communication Intelligence Corp. Lists on the Vancouver Stock Exchange
VANCOUVER, British Columbia — March 25, 1987 — Communication Intelligence Corp. and Zenith Metals Recovery Inc. were posted and called for trading on the Vancouver Stock Exchange this morning, at the opening.
Communication Intelligence is defined as a non-development company under exchange rules, while Zenith Metals is categorized as a development company. Their addition brings to 64 the total companies called for trading on the VSE so far this year. Communication Intelligence, with head offices in Menlo Park, Calif., has developed a proprietary technology in the computer software and hardware fields that permits a user to communicate with a computer by entering data and instructions in handwritten form. The company will trade under the symbol ''CUA.B.''
The underlying research for the technology, called Handwriter, was originally performed by SRI International, formerly known as the Stanford Research Institute, a non-profit research organization. In 1982, SRI transferred the initial technology and granted a royalty-free license for certain patents to Co-ZasR h%=95R Intelligence in exchange for approximately 833,000 Class A common shares of the company.
Communication Intelligence has successfully applied Handwriter to the Japanese language and has also developed an alphabetic recognition dictionary to process hand-printed numbers, English letters and special characters. Initially it will target the office automation segment of the Japanese computer market for its product. Design and manufacture of the Handwriter products has been licensed to Seiko.
The company's capitalization is 20 million Class B common shares with 1 cent par value, of which 1.5 million are currently issued and outstanding.
Because its offering was over-allotted to the extent of 225,000 shares, the company has granted to its agents, Levesque, Beaubien Inc. and C.M. Oliver & Co. Ltd., a Greenshoe option entitling them to purchase a total of 225,000 shares at a price of $2.025 a share up to the close of business May 4. The shares of the company are considered to be in the course of primary distribution.
Vancouver-based Zenith Metals is involved in the business of recovering strategic metals from specialized scrap materials. It will trade under the symbol ''ZMR.''
Strategic metals are those considered critical to a nation's economy and defense. Usually they are not found in sufficient quantity on domestic lands to meet market demand. Such metals include tungsten, cobalt, tantalum, niobium and titanium, used in the defense, aerospace, electronic, steel and cutting-tool industries.
Zenith, through its wholly owned subsidiary Zenith Metals Recovery (U.S.) Inc., has entered into an agreement with American Strategic Metals Inc. of Monument, Colo., whereby American Strategic will purchase and process scrap materials and market tungsten-carbide powders on Zenith's behalf. As a backup to this arrangement, Zenith has made a similar agreement with Metallurgical Industries Inc. of Tinton Falls, N.J.
Zenith has now completed its initial distribution of shares to the public, selling a total of 600,000 shares for total gross proceeds of $300,000. The company's capitalization is 10 million shares with no par value, of which 1,750,000 are currently issued and outstanding (750,000 of the issued shares are in escrow). Canarim Investment Corp. Ltd., Continental Carlisle Douglas, Union Securities Ltd., and Yorkton Securities Inc. acted as the company's agents.
Communication Intelligence Corp.
Suite 257
333 Ravenswood Ave.
Menlo Park, Calif. 94025
415-328-1311
Zenith Metals Recovery Inc.
310 – 850 W. Hastings St.
Vancouver, British Columbia V6C 1E1
604-682-3008
CONTACT:
Joyce Courtney of the Vancouver Stock Exchange, 604-689-3334