CoolCan Enters Into Financing Agreement.Business Editors CALABASAS, Calif.--(BUSINESS WIRE)--July 11, 2001 CoolCan Technologies Inc. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CCTI CCTI Climate Change Technology Initiative CCTI Composite Can Tube Institute CCTI Chairman of the Joint Chiefs of Staff commended training issue (US DoD) CCTI Control Center Technology Interchange CCTI Chief's Call To Initiation ) ( the " Company " ) announces that it has entered into a subscription agreement with an individual European investor for the acquisition of 2,000,000 units at a price of $0.54 US per unit. Each unit will be comprised of one share of the Company's common stock and one-half of one share purchase warrant. Each whole share purchase warrant will entitle the investor to purchase one additional share of the Company's common stock at a price of $1.00 for a period of one year from the date of closing. The funds are to be advanced by the investor over a period expiring August 8, 2001. The proceeds of the private placement financing will be used to fund the Company's ongoing product development activities, including the execution of Phase II of the Company's engineering program resulting in the production of working prototypes. CoolCan Technologies Inc. is the owner of a unique proprietary patented technology, INSTACOOL(TM), which may be utilized with any aluminium, glass or plastic (PET) container for soft drinks, beer, juice or water and which chills the beverage quickly when opened by the consumer. For more information please visit the company web site at www.coolcantech.com or telephone toll free investor relations Investor relations The process by which the corporation communicates with its investors. at 1-866-266-5226 (866-CoolCan). Certain matters discussed in this Press Release may constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and, as such, may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Reader are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. CoolCan Technologies Inc. Bruce Leitch, President |
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