Active Control Financing-First Tranche Closed, Order Back-Log Shipping.TORONTO -- Active Control Technology Inc. (the "Corporation")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ACT) is pleased to announce that it has closed the first tranche Tranche One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. tranche A class of bonds. of $215,000 of its financing previously announced on December 15, 2005. The Company has issued 4,300,000 units priced at $0.05 per unit with each unit comprised of one common share and one warrant to purchase a further common share at $0.10 until January 11, 2008. A $21,500 cash commission and 430,000 compensation warrants were issued to Aberdeen Gould Inc. as commission on the financing. Each compensation warrant is good to purchase a common share at $0.10 until January 11, 2008. The Securities issued are legended and restricted from trading until May 12, 2006. The proceeds of this closing will be used to continue shipping a current order back-log from major customers which stands in excess of $185,000, for working capital and to recapitalize re·cap·i·tal·ize tr.v. re·cap·i·tal·ized, re·cap·i·tal·iz·ing, re·cap·i·tal·iz·es To change the capital structure of (a corporation). re·cap the Corporation's balance sheet. An employee of the Corporation has agreed to settle a C$10,000 performance bonus in exchange for 190,476 common shares at a price of C$0.0525 per share. The transactions set out herein are subject to approval from the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . Active Control Technology Inc. designs and markets wireless radio frequency (RF) devices for the commercial security and access control industries in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Located in Mississauga, Ontario For the First Nation, see . Mississauga (pronounced: [ˌmɪsɪˈsɑgə] listen in Canada, the company trades publicly on the TSX Venture Exchange under the symbol ACT. We make RF work.(TM) The TSX Venture Exchange has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release. Active Control Technology Inc. (TSX VENTURE:ACT) |
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