INTERNATIONAL CONTOUR - AGENCY AGREEMENT AND PRIVATE PLACEMENT.
VANCOUVER, British Columbia--(BUSINESS WIRE)--JANUARY 17, 1995--INT'L CONTOUR TECH(TSE See Tokyo Stock Exchange.
1. See Tokyo Stock Exchange (TSE).
2. See Toronto Stock Exchange (TSE). :ICY.A ) International Contour Technology Inc. announced today that it has entered into an interim agency agreement with Whalen, Beliveau & Associates Inc. of Montreal Of Montreal is an American indie pop band formed in Athens, Georgia, fronted by Kevin Barnes. It was among the second wave of groups to emerge from The Elephant 6 Recording Company. , Quebec to conduct a private placement of special warrants to be issued by the Company.
Whalen Beliveau will act as agent to sell between 3,333,334 and 5,666,667 special warrants of the Company at a price of $1.50 per special warrant for gross proceeds of between $5,000,000 and $8,500,000. The agreement is subject to the approval of The Toronto Stock Exchange Toronto Stock Exchange (TSE)
Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the shareholders of the Company.
The offering provides that each special warrant will be convertible into one Class A subordinate voting share of the Company at no additional cost. In conjunction with the offering the Company intends to seek shareholder approval to consolidate its currently issued Class A and Class C shares on a 1 for 3 basis. In the event that the consolidation does not occur, then each special warrant will be convertible into three Class A subordinate voting shares Voting Shares
Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors.
Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. of the Company. Other terms of the offering include the holders of the Class C multiple voting shares converting their shares to Class A shares and redesignating the Class A shares to common shares.
The Company intends to file a prospectus with provincial securities commissions to qualify for trading the Class A shares to be issued on exercise of the special warrants.
The proceeds of the offering will be held in escrow pending the issue of receipts for the prospectus, and upon release will be used to fund the Company's U.S. subsidiary TSI TSI Total Solar Irradiance (sum solar light in energy per unit of time)
TSI Trading Standards Institute (UK)
TSI Transportation Safety Institute (US DOT) TelSys, Inc. TelSys plans to commercialize the data networking technology which it has acquired from the United States National Aeronautic aer·o·nau·tic also aer·o·nau·ti·cal
Of or relating to aeronautics.
aero·nau and Space Administration (NASA NASA: see National Aeronautics and Space Administration.
in full National Aeronautics and Space Administration
Independent U.S. ) and to take a leading role in the industries of satellite data networking systems and broadband telecommunications switching products.
International Contour Technology Inc. is listed on the Toronto Stock Exchange, Symbol ICY.A.
CONTACT: Garry Bahsler
Chief Financial Officer
Manager, Corporate Marketing