Ottawa Citizen

Sitebrand gets listing

OTTAWA

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Sitebrand.com, a Gatineau electronic commerce software company, is now trading on Venture Exchange of the Toronto Stock Exchange. It raised $2 million in a private placement investment. The stock traded at 45 cents a share, five cents more than the initial funding formulas. Sitebrand, whose software encourages website purchases, said revenues rose 12 per cent to $506,124 in the first quarter ending in February. Losses jumped to $507,069 from just $11,498 a year earlier on a rapid increase in sales, marketing and support expenses. It now has 40 employees compared to 15 a year earlier.

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