October 29, 2009 (FinancialWire) — CounterPath Corp. (TSXVenture: CCV) (OTCBB: CPAH) is launching a private placement of up to around 3.3 million units for gross proceeds of up to around CDN$2 million. The company said it anticipates that insiders will be subscribing for greater than 25% of the offering.

The units will be offered at CDN$0.60 per unit, with each consisting of one common share in the capital of CounterPath and one-half of one non-transferable common share purchase warrant.

Each whole warrant shall entitle the holder to purchase one common share for a period of two years.

Vancouver-based CounterPath is a provider of desktop and mobile VoIP software products and solutions.

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