Transmitted by Canada NewsWire on : December 22, 2003 09:56
SAMSys Technologies Announces Completion and Filing of Final Prospectus
Stock Symbol: SMY
Listing: TSX Venture Exchange
Outstanding Shares: 43.1 Million (incl. special warrants)
TORONTO, Dec. 22 /CNW/ - SAMSys Technologies Inc. (SMY:TSX-VEN)
("SAMSys"), an international provider of radio frequency identification (RFID)
hardware solutions, today announced that on December 22, 2003 it received a
receipt of its final prospectus dated December 18, 2003 which qualifies the
distribution of 12,000,000 common shares and 6,000,000 common share purchase
warrants ("Warrants") of SAMSys which are issuable upon the exercise or deemed
exercise of 12,000,000 special warrants ("Special Warrants") issued by SAMSys
on October 15, 2003.
The Special Warrants will be exercisable until 5:00 p.m. (Toronto time)
on December 30, 2003. Any Special Warrants not exercised prior to that time
will be deemed to be exercised without any further action by the holders of
such Special Warrants. Upon the exercise or deemed exercise of all Special
Warrants, SAMSys will have approximately 43.1 million common shares
outstanding.
Each Warrant will be exercisable to purchase one common share of SAMSys
at a price of $1.50 until October 13, 2006. The TSX Venture Exchange has
conditionally approved the listing of the Warrants. The listing is subject to
SAMSys fulfilling all of the TSX Venture Exchange's requirements, including
the distribution of the Warrants to a minimum number of public Warrant
holders.
The Special Warrants were issued and sold on a private placement basis
pursuant to an Agency Agreement dated October 15, 2003 between First
Associates Investments Inc., Clarus Securities Inc. (collectively, the
"Agents") and SAMSys at a price of $1.10 per Special Warrant. The prospectus
also qualifies the distribution of 600,000 compensation options to the Agents.
Each compensation option entitles the holder to purchase one common share of
SAMSys at a price of $1.10 at any time prior to 5:00 p.m. (Toronto time) on
October 14, 2005. |
