Mr. Rob Bakshi reports

APIVIO UPSIZES PREVIOUSLY ANNOUNCED BOUGHT DEAL PRIVATE PLACEMENT

Apivio Systems Inc. (formerly Moimstone Corp.), due to overwhelming demand, has increased the size of its private placement previously announced on March 2, 2015, and the entirety of the private placement will now be on a bought-deal basis. Apivio has amended its engagement letter with PI Financial Corp., pursuant to which the underwriter has now agreed to purchase, on a bought-deal basis, 9,428,571 units of the company at a price of 35 cents per unit. The gross proceeds to the company will be $3.3-million.

Each unit consists of one common share and one non-transferable common share purchase warrant, with each warrant exercisable by the holder into one common share of the company at a price of 55 cents per share for a period of 24 months from the closing date, subject to an accelerated expiry in certain circumstances.

The company will pay the underwriter a fee equal to 8 per cent of the gross proceeds of the private placement, payable in cash or, at the underwriter's option, partially in units, and 8 per cent of the total number of units sold under the private placement in compensation options. Each compensation option will entitle the underwriter to acquire one common share of the company at a price equal to the lower of 35 cents or the lowest price permissible by the TSX Venture Exchange for a period of 24 months from the closing of the private placement.

The proceeds raised under the private placement will be used for general working capital and corporate purposes. The private placement is expected to close on or about March 24, 2015, and is subject to the company receiving all necessary regulatory approvals. Securities issued under the private placement will be subject to a four-month hold period, which will expire four months plus one day from the closing date of the private placement.