Ann: Excite Raises $1M with Placement, page-2

Well not at a premium, that's for sure. As a poster commented earlier, how excited about this we get will come down to who the investors are I guess.

Excite Technology Services Limited (Excite or the Company) is pleased to announce that it has received binding commitments from sophisticated investors in a placement of ordinary shares to raise $1 million to provide working capital to fund investment in the Group's sales and go to market resources that will now include the Group's enhanced capability in digital forensics and incident response. The new shares have an issue price of $0.01 (1 cent) per share (total of 100 million shares) which are expected to be issued by Wednesday next week. Excite CEO, Bryan Saba said "Following the acquisition of CDFS, we will now focus our attention on driving a greater impact within our expanded customer base. With the acquisition of CDFS we have a unique opportunity to bring their specialised service offering into our customer base and equally will have the prospect to work with their customers and partners. I welcome the continued support from our existing shareholders through their participation in this placement."