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AIR PACKAGING TECHNOLOGIES PRIVATELY PLACES 120,000 SHARES AT CDN. $0.85 PER SHARE

 VALENCIA, Calif., Oct. 29 /PRNewswire/ -- Air Packaging Technologies, Inc. (VSE: APT), designers, manufacturers and marketers of inflatable packaging, announced that, subject to regulatory approval, it has arranged a Cdn. $102,000 private placement. The private placement will involve the issuance of 120,000 shares at Cdn $.85 per share with non-transferable share purchase warrants to purchase a further 120,000 shares of the Company exercisable for two years at a price of Cdn. $.85 per share if exercised during the first year and at a price of Cdn. $1.00 per share if exercised thereafter. The finder's fee allowed under the policies of the Vancouver Stock Exchange will be paid. The Company will use the proceeds of the private placements for working capital and debt repayment.
 -0- 10/29/93
 /CONTACT: Henry Saltiel, President of Air Packaging Technologies, 805-294-2222/
 (APT.)


CO: Air Packaging Technologies, Inc. ST: California IN: SU:

LG-RW -- NY018 -- 8387 10/29/93 09:44 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
Words:158
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