Hello,
Just received a news release in the "inbox" - thought I'd be the first to post it here.
Also checked their site (http://www.avcan.com) and it looks like a new one is on the way.
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News Release
AVCAN announces Private Placement of $650,000
with Union Securities International of London, England
May 26, 1999 Trading Symbol: ACN
John J. Sutherland, President and C.E.O., reports:
Vancouver, B.C. - ASC AVCAN Systems Corporation has negotiated a private placement of $650,000 with Union Securities International of London, England.
The placement is priced at $1.10 per unit for a total of 590,900 units. Each unit is comprised of a share and a warrant exercisable at $1.10 in the first year and at $1.30 in the second year. A finder's fee of 7½% is payable in shares and/or cash, all subject to regulatory approval.
Proceeds of this financing will be used to expand North American sales and marketing. Recent sales of systems and data gathering services have confirmed AVCAN's strong acceptance by its target markets.
AVCAN has developed a technology that enables utility companies to operate more efficiently by supplying a business solution that effectively monitors and controls inventories and assets. As a data acquisition service provider with proven industry knowledge, AVCAN provides fast, cost-effective and critical information to utility companies. By generating integrated information that is vital to the planning, managing and operating of utilities, AVCAN services utilities and allows them to
gain a strong business advantage.
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For further information contact:
John J. Dougherty, Director of Business Development
Phone: 604.654.1855 E-mail: johnd@avcan.com
The Vancouver Stock Exchange neither approves nor disapproves the information contained herein. |
