SAMSys Technologies Inc. Proposes Private Placement Financing
Company: SAMSys Technologies Inc.
Stock Symbol: SMY
Listing: Canadian Venture Exchange (CDNX)
Outstanding Shares: 21.7 Million (Fully Diluted)
Web Site: www.samsys.com
TORONTO, Dec. 20 /CNW/ - SAMSys Technologies Inc., ("SAMSys"),
(SMY:CDNX), www.samsys.com, of Toronto, a provider of Radio Frequency
Identification (RFID) reader hardware, announced today a proposed $1,218,000
private placement financing by way of the issuance of 2,030,000 Common Share
Units at a price of $0.60 per Unit. Each Unit consists of one common share and
one common share purchase warrant exercisable for 2 years from the date of the
closing of this financing. Each warrant is exercisable into one common share
at a price of $0.75. Common shares issued from this financing and will be
subject to resale restrictions for four months from the date of closing. This
private placement financing will be un-brokered. The financing is expected to
close on or before January 31, 2001.
The Canadian Venture Exchange (CDNX) conditionally approved the pricing
of this financing on December 17, 2001. The closing price of SAMSys' common
shares on December 17, 2001 was $0.75. The pricing of this financing is set
within the maximum allowable discount to market authorized by the CDNX.
The proceeds from this financing will be applied primarily towards
working capital for the commercialization and deployment of SAMSys' RFID
technology. |
