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BARRINGER ANNOUNCES COMPLETION OF PRIVATE PLACEMENT FINANCING

 BARRINGER ANNOUNCES COMPLETION OF PRIVATE PLACEMENT FINANCING
 SOUTH PLAINFIELD, N.J., Jan. 6 /PRNewswire/ -- Barringer Technologies, Inc. (NASDAQ: BARR) today announced that the private placement of 730,000 of it's Class B Preferred Stock has been fully subscribed. The company closed with respect to 627,500 shares of the Class B Preferred Stock, yielding $1,225,000 of net proceeds in December. The company expects to close the remaining 102,500 shares shortly. Laidlaw International, Inc. acted as placement agent for the issuer.
 The new Class B Preferred Stock is convertible into shares of Barringer Technologies common stock on a one for one basis. The preferred bears a dividend of 8 percent per annum, payable in cash or common stock, at the company's option.
 The proceeds will be utilized to increase production of its' IONSCAN drug and explosives detector product line for fulfillment of existing backlog and contemplated future orders.
 Barringer Technologies Inc. is a holding company with two operating entities. Barringer Instruments Inc., develops, manufactures and markets specialty analytical instruments for security, law enforcement, exploration and environmental monitoring applications. Barringer Laboratories, Inc. (NASDAQ: BALB), 49 percent owned, provides analytical testing services for the environmental and minerals industries.
 -0- 1/6/92
 /CONTACT: Stanley Binder president of Barringer Technologies, 908-561-6000/
 (BARR, BALB) CO: Barringer Technologies Inc. ST: New Jersey IN: SU:


SH-KW -- NY051 -- 6980 01/06/92 14:33 EST
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Publication:PR Newswire
Date:Jan 6, 1992
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