Tucows Inc. Completes Closing of Over-Allotment Option

HostReview.com
Tuesday, August 30, 2005; 10:35 AM

Tucows Inc. (www.tucows.com) announced that the over-allotment option associated with its recent public offering has been exercised in full, resulting in the issuance by Tucows of 2,889,250 shares of its common stock at a price of U.S. $0.90 per share for aggregate gross proceeds of U.S. $2,600,325. The offering was underwritten by a syndicate led by Desjardins Securities Inc., which included BMO Nesbitt Burns Inc., CIBC World Markets Inc. and Clarus Securities Inc.

Tucows Inc. provides Internet services and downloadable software through a global distribution network of more than 6,000 service providers. These service providers primarily consist of web hosting companies, Internet service providers and providers of other services over the Internet. Tucows' services include domain registrations services, digital certificates, billing, provisioning and customer care software solutions, email and anti-spam services, Blogware and website building tools.

Tucows is an accredited registrar with the Internet Corporation for Assigned names and Numbers, or ICANN, and generates revenue primarily through the provision of domain registration and other Internet services to service providers who offer such services to their own customers in a process known as wholesale distribution.