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EXHIBIT 99.1
CAM COMMERCE SOLUTIONS
17520 Newhope Street
Fountain Valley, CA 92708
CAM RECEIVES PARTIAL FUNDING IN EQUITY PRIVATE PLACEMENT
FOR IMMEDIATE RELEASE JUNE 30, 2000
CONTACT: MATHEW HAYDEN, PRESIDENT
HAYDEN COMMUNICATIONS
843-272-4653
(FOUNTAIN VALLEY, CA) CAM Commerce Solutions, Inc. (NASDAQ:CADA), formerly CAM
Data Systems, Inc., today announced that the second half of the $8 million
private placement of common stock first announced on March 27, 2000 has been
partially completed. Of the $4 million to be raised following the first closing
on March 27, 2000, CAM Commerce Solutions has now received $2 million, bringing
the total amount received from the placement to $6 million. Three of the funds
involved in the transaction, Anegada Fund, Ltd., Tonga Partners, L.P. and The
Cuttyhunk Fund Limited, have breached their agreement with CAM Commerce
Solutions and refused to purchase the final $2 million of common stock. All
three funds are managed by Cannell Capital. CAM Commerce Solutions has made a
demand on these funds to cure their breach, and is currently evaluating its
legal remedies in the event they fail to do so.
ABOUT CAM COMMERCE SOLUTIONS
CAM Commerce Solutions (formerly CAM Data Systems, Inc.), provides total
commerce solutions for traditional as well as web retailers that are based on
the company's open architecture software products for managing inventory, point
of sale, sales transaction processing, and accounting. These solutions often
include hardware, installation, training, service, and consulting provided by
the Company. You can visit CAM Commerce Solutions at www.camcommerce.com
IMPORTANT INFORMATION
The statements made in this press release could be forward looking statements
based on expectations that involve a number of risks and uncertainties. The
factors that could cause actual results to differ materially include the
following: economic conditions; competitive factors and pricing pressures;
changes in product mix; technological developments affecting the company's
operations, market, products; and other factors discussed in the company's
filings with the Securities and Exchange Commission.
