CounterPath Announces Exercise of Warrants For Proceeds of $750,000

Desktop and mobile VOIP software developer, CounterPath Corporation recently announced it has received total proceeds of $750,000 from the exercise of 833,334 warrants issued pursuant to a private placement that closed October 29 2009. Accordingly, the Company issued 833,334 shares of common stock (“Shares”) in exchange for the exercised warrants. The warrants were exercisable at a price of $0.90 per share until October 29, 2011.

The company plans to use the proceeds to further expand sales and marketing efforts, working capital, and general corporate purposes.