Blue Tree Wireless Data Inc., a leading provider of wireless modems and software
solutions for the rapidly-growing M2M (Machine-to-Machine) market, today
announced that it has closed its Rights Offering on Friday, December 16, 2005.
BlueTree raised $468,004 by issuing 3,120,026 Units at $0.15 per Unit.
Each Unit was comprised of one common share and one half of one common share
purchase warrant, with one full warrant being exercisable into one common
share at a price of $0.225 per share. The warrants expire on December 17,
2007. An insider, who is a member of the senior management team, invested
$225,000 in this offering.
The foregoing is subject to final approval from the TSX Venture Exchange
and other applicable regulatory authorities.