Edmonton, Alberta - September 24, 2003 -Matrikon Inc. (TSX: MTK) is pleased to announce that it has closed the underwritten private placement previously announced on September 10, 2003. Matrikon issued 4,545,455 common shares to a group of institutional investors at a price of $2.20 for gross proceeds of $10 million.The private placement was successfully marketed by a syndicate of underwriters led by Paradigm Capital Inc. and including Canaccord Capital Corporation. The net proceeds will be used to fund growth and to enable the Company to consider investments or acquisitions from time to time in one or more new technologies, products or businesses that expand, complement or are otherwise related to Matrikon's current business and products. About Matrikon Inc. Matrikon is a leading provider of technology that delivers solutions for industrial agility and through innovation, is shaping the future of industrial plants. Our technology enables plants to achieve operational excellence by transforming production data into knowledge to predict and prevent problems and optimize operations. Our customers achieve agile operations through the combination of external market and plant data to make informed, intelligent decisions in real-time.With offices in major centers throughout North America, Australia and the Middle East and a global client base including industry leaders in a wide range of manufacturing and process industries, Matrikon's reach is global.For more information, contact: Nicole Sayler Matrikon Phone: 780-945-4010 [email protected]
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