LONDON, Ontario -- Dennis Cocco, Chief Executive Officer of Executive Manufacturing Technologies
Inc. is pleased to announce that the company has secured $5.5 million in venture
capital financing from four Canadian firms.
The investor group is lead by Ventures West Management Inc. which is providing
an equity investment of $2 million. The Canadian Science and Technology Growth
Fund is contributing $1.25 million and Bank of Montreal Capital Corporation is
supplying $750,000. These firms will receive Class A Preferred Shares in exchange
for their equity investment. MM Venture Partners is a part of the investor consortium
with a $1.5 million venture debt instrument.
The financing will be used to boost the global sales and marketing efforts for
VisualPlant™. Developed by Executive Manufacturing Technologies, VisualPlant™
is the first Manufacturing Intelligence software solution available in the world.
"We have found a ready market for VisualPlant™," says Dennis Cocco. "Manufacturers
have been clamouring for a system to track their production. VisualPlant™ fills
the information void created by companies tired of inefficient manual data collection
and cumbersome custom configured programs that fail to deliver on their promise."
About Executive Manufacturing Technologies Inc.
Executive Manufacturing Technologies is a privately held company and is the leader
in web-based software solutions that provide manufacturers an alternative to costly
custom configured programs. VisualPlant™ can be installed quickly and is capable
of managing all manufacturing information like production efficiency, downtime
monitoring, component tracking and validation. For further information please
visit
www.visualplant.com
About MM Venture Partners
MM Venture Partners is a $150 million fund, which focuses exclusively on public
and private technology companies in Canada. MM Venture Partners has focused on
specific niche opportunities by providing financing to Canadian information technology
and biotechnology companies. The other partner is San Francisco based GATX Capital
Corporation, a global infrastructure investor. For more information visit us online
at
www.mmvp.com
For more information, please contact:
Executive Manufacturing Technologies Inc.
Kevin Putnam
Tel: 416-537-1128
MM Venture Partners
Greg Connor, Partner
Tel: 416-977-9718