American Insulock Announces Financial Consulting Agreement and Revised Offering Price of Private Placement Offering.BURNABY, British Columbia “Burnaby” redirects here. For persons sharing this surname, see Burnaby (surname). Burnaby, British Columbia, Canada, is the city immediately east of Vancouver. -- American Insulock Inc. (the "Company") (CNQ CNQ Cost of Non Quality CNQ Canadian Trading & Quotation System Inc. CNQ Club Neon Quebec (Quebec Neon Club) :AIKI.U) announces that the Company has entered into a two-year financial consulting agreement ("Agreement") with HDM HDM - SPECIAL Capital Inc. ("Consultant") of Vancouver, B.C. Pursuant to the Agreement, the Consultant will provide general financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to the Company and is being granted an option to acquire one million (1,000,000) shares in the Company's common stock at an exercise price of $0.05 per share. In addition, the Company shall pay cash or other consideration at such times and in such amounts as may be agreed to between the parties. The Company also announces that the Company's private placement offering of up to 5,000,000 units of its securities, which was previously announced on August 26, 2004, has not yet closed and is being revised. The offering price of the units is being reduced from $US 0.10 per unit to $US 0.05 per unit. Each such unit consists of one common share and one non-transferable share purchase warrant, which entitles the holder to purchase one additional common share of the Company for a one-year period. The exercise price of the share purchase warrants is being reduced from $US 0.15 per share to $US 0.10 per share. The total proceeds of up to $US 250,000 will be used to develop a commercial production system to produce the Company's brand of insulating concrete forms Insulating Concrete Forms (ICFs) are stay-in-place formwork for energy-efficient, cast-in-place reinforced-concrete walls. The forms are interlocking modular units that are dry-stacked (without mortar) and filled with concrete. (known as Insulock Blocks) and for general working capital. The Company will pay a finder's fee Finder's fee A fee a person or company charges for service as an intermediary in a transaction. finder's fee The charge levied by a person or firm for putting together a deal. to the Consultant for identifying or introducing subscribers who subscribe for units in this private placement offering. The Company's core business is the manufacture and distribution of its brand of insulating concrete forms (known as Insulock Blocks), together with the equipment that is used to manufacture these blocks. Insulock Blocks are made of polyurethane polyurethane Any of a class of very versatile polymers that are made into flexible and rigid foams, fibres, elastomers (elastic polymers), surface coatings, and adhesives. rather than polystyrene polystyrene (pŏl'ēstī`rēn), widely used plastic; it is a polymer of styrene. Polystyrene is a colorless, transparent thermoplastic that softens slightly above 100°C; (212°F;) and becomes a viscous liquid at around 185°C; (i.e., Styrofoam(R)), which is the material that is used by virtually every other manufacturer of insulating concrete forms. Insulock Blocks are much stronger than polystyrene blocks and can be used to construct soundwalls and buildings that are highly effective at absorbing sound and that have an R-30 or R-38 heat insulating value. On Behalf of the Board of Directors, American Insulock Inc. Enna Keller, Chief Executive Officer and Director Canadian Trading and Quotation Systems Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. American Insulock Inc. (CNQ:AIKI.U) |
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