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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF ISSUER PURSUANT TO SECTION 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Month Ended Commission file number
November 30, 2000 0-14884
Exact name of the registrant as specified in its charter
SAND TECHNOLOGY INC.
(formerly Sand Technology Systems International Inc.)
Jurisdiction of Incorporation
CANADA
Address of principal executive offices:
4141 SHERBROOKE STREET WEST, SUITE 410
WESTMOUNT, QUEBEC, CANADA H3Z 1B8
TELEPHONE (514) 939-3477
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No X
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If "Yes" is marked, indicated below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- N/A.
Total number of pages is 4
-1-
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[LOGO] Press contacts:
de Jong & Associates,
Tel: (760) 943-9065, [email protected]
PRESS RELEASE
SAND ENTERS INTO A FINANCING AGREEMENT WITH SPROTT SECURITIES
MONTREAL, CANADA, November 6, 2000: Sand Technology Inc. (NASDAQ:SNDT)
announced today that it had entered into a financing agreement with Sprott
Securities Inc. whereby Sand will sell in a Canadian private placement
2,000,000 common shares at a price of US$6.00 per share, being the current
market price at the close of trading on Friday, November 3, 2000, for total
gross proceeds of US$12,000,000. Sand has also granted to Sprott an
over-allotment option which will entitle Sprott to purchase up to an
additional 1,000,000 common shares at a price of US$6.00 per share for
additional gross proceeds of US$6,000,000.
The transaction which is subject to the satisfaction of a number of
conditions, is anticipated to close on November 22, 2000.
Sand has also undertaken to use its best efforts to have its common shares
listed and posted on The Toronto Stock Exchange.
This news release does not constitute an offer to sell or the solicitation of
an offer to buy the securities in any jurisdiction.
ABOUT SAND TECHNOLOGY
Sand Technology, with headquarters in Montreal, Canada and offices in the
United Kingdom and the United States, provides performance, scalable software
solutions for data mining, data marts, data warehouses and online analytical
processing (OLAP). Sand's Nucleus product suite brings patented technology to
the business user, empowering more timely and accurate decision making.
Nucleus is being used in the Retail, Finance, Healthcare, Transportation,
Telecommunication, Manufacturing, Government and Insurance sectors to support
strategic corporate initiatives including: e-Business; CRM (Customer
Relationship Management); SAP-TM- reporting; SCM (Supply Chain Management);
risk analysis and management; new business; product trend and profitability
analysis; fraud detection; emerging markets; competitive analysis, and
quality control. Sand Technology has commercial relationships with IBM,
Oracle, Compaq Computer Corporation, Microsoft, Brio Technology, and
Information Builders. For more information, visit www.sandtechnology.com.
All rights Reserved. Nucleus, Nucleus Server, N: VICTOR and MPSO are
registered trademarks of Sand Technology Inc. and Nucleus Exploration Mart,
Nucleus Exploration Warehouse, Nucleus Virtual Database (VDB), NUCLEUS
POWERED! and Nucleus E! are trademarks of Sand Technology Inc. Other
trademarks are the property of their respective owners.
Forward looking statements made in this release are based on reasonable
assumptions. However, some assumptions may not materialize and unanticipated
events may occur which could cause actual results to differ materially from
those forecasted. Competitive pressures, availability and cost competitiveness
of supplies or competing products, timing of significant orders, market
acceptance of the Sand Nucleus Product Suite and
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other risks and uncertainties described in Sand's reports to Securities and
Exchange Commission are important factors which could cause actual results to
differ materially from those projected.
INVESTOR RELATIONS ENQUIRIES
Ron deJong & Associates, Tel: 760/943-9065
E-mail: [email protected]
PRESS ENQUIRIES
North America: Hellena Smejda
WordsWorth International
Tel: 815/736-9902
E-Mail: [email protected]
Europe: John Keeping/Nigel Pritchard, PPR.
Tel: 01932 828771
E-mail: [email protected]
E-mail: [email protected]
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SAND TECHNOLOGY INC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SAND TECHNOLOGY INC.
November 8, 2000 /s/ Arthur G. Ritchie
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Arthur G. Ritchie
Chief Executive Officer
