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TEE-COMM COMPLETES $20 MILLION OFFERING

 MILTON, Ontario, Oct. 22 /PRNewswire/ -- Tee-Comm Electronics Inc. (AMEX: TEN), Canada's largest manufacturer and distributor of home satellite systems and services, announces today that, subject to regulatory approval, it will file a final prospectus for $20 million on the issue of 5,000,000 common shares at $4 per share with securities commissions in Canada. Underwriters for the issue are Nesbitt Thomson Inc. and ScotiaMcLeod Inc.
 Proceeds are to be used to finance expansion of the Company's TCI Home Entertainment division, which provides a cable-like TV subscription service to Canadian homes not served by conventional cable companies. In addition, the Company is planning to offer a Canadian Direct Broadcast Satellite (DBS) service, which will provide up to 150 channels of basic, premium and pay-per-view programming as well as information services on a 24 inch satellite dish late in 1994.
 -0- 10/22/93
 /CONTACT: Bob Kavelman, 905-878-8181, or Stephen Litwin, 514-333-3400, both of Tee-Comm Electronics/
 (TEN)


CO: Tee-Comm Electronics Inc. ST: Ontario IN: CPR SU: OFR

MP -- NY023 -- 5626 10/22/93 09:55 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
Words:175
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