Comptec Industries Closes Private Placement of $1,766,250.VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 15, 1997-- Comptec Industries Ltd. (VSE See DOS/VSE. VSE - Virtual Storage Extended : CIL (Common Intermediate Language) The ECMA version of the Microsoft Intermediate Language (MSIL). See CLI. 1. (project) CIL - Component Integration Laboratories. 2. (language) CIL - Common Intermediate Language. ) -- Comptec Industries Ltd. (the "Company") is pleased to announce that it has closed a $1,766,250 private placement consisting of 883,125 units at $2.00 per unit. Each unit is comprised of one common share and one-half of an A Warrant and one-half of a B Warrant. Each whole A Warrant entitles the holder to purchase one additional common share at the price of $2.25 until July 30, 1998 and each whole B Warrant entitles the holder to purchase one additional common share at the price of $3.00 until May 20, 1999. All common shares contained in the units and any shares issued upon exercise of the warrants are subject to a one-year hold period expiring May 20, 1998. Commission is payable on the financing at the rate of 7 percent of units placed, payable in cash. This private placement was originally announced May 13, 1997 and has been revised since that announcement to the terms as closed. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the private placement will be applied to the acquisition costs of Technoplast Kunststofftechnik GmbH ("Technoplast") which was announced by the Company on May 6, 1997. Comptec is a manufacturer of specialty plastic components for the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , automotive and consumer electronics industry. Technoplast is a machinery and dye manufacturing company located in Austria specializing in the assembly of turn-key factories for the manufacture of PVC PVC: see polyvinyl chloride. PVC in full polyvinyl chloride Synthetic resin, an organic polymer made by treating vinyl chloride monomers with a peroxide. products. -0- NOTE: The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved the information contained herein. CONTACT: Comptec Industries Ltd. Keith Patey, 604/681-3146 1-888-330-6600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion