Active Control Provides Corporate Update And Announces Financing.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- Active Control Technology Inc. ("ACT" or the "Corporation") is pleased to announce that it has launched its new Centurion "Nova" family of wireless transmitters and receivers in Canada. Centurion is South Africa's leading manufacturer of wireless remote gate controls and ACT is its exclusive wireless distributor for Canada and the USA. The Centurion product line provides the Corporation a complete family of stand-alone wireless gate control products and is priced to be competitive while returning sound margins. Launch into the USA is anticipated for early 2005. Steve Barrett, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , also reports that orders of its new CLiK64(TM) family of transmitters and receivers remain strong. The new CLiK64(TM) is the culmination of 3 years of intense, customer-focused product development to meet the stringent requirements of the commercial and residential multi-unit access control market. The U.S. launch is expected next month, following FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. approvals. FCC laboratory tests are now complete and administrative approvals are expected within the next 30 days. CE approvals for an international launch are anticipated for the first calendar quarter of 2005. ACT is also pleased to announce that it is undertaking a private placement offering of 191,000 units of the Corporation at a price of $0.105 per unit, or $20,055 in the aggregate. Each unit will consist of one common share of the Corporation and one share purchase warrant with each warrant entitling the holder to acquire an additional common share at the price of $0.20 per share until two years from the date of issuance. The funds received from this private placement will be used to fund ongoing operations. The completion of this transaction is subject to the approval of 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 responsibility for the adequacy or accuracy of this release. ACTIVE CONTROL TECHNOLOGY (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ACT) |
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