BTG Makes Further Investment in SAMSys Technologies Inc.
via COMTEX
October 15, 2003
TORONTO, Oct 15, 2003 (Canada NewsWire via COMTEX) --
BTG (LSE: BGC), the global technology commercialization company, announced today that it has acquired 800,000 Special Warrants of SAMSys Technologies Inc (TSX-VEN: SMY) as a participant in a private placement of a total of 12,000,000 Special Warrants. The Special Warrants, priced at $1.10 per Special Warrant, entitle BTG to acquire, for no additional consideration, one Common Share and one-half of one Common Share purchase warrant for each Special Warrant so exercised until the earlier of twelve months from the closing of the private placement and five business days after the issue of the last receipt for a prospectus filed by SAMSys qualifying the distribution of the underlying securities (the 'Expiry Date'). Any Special Warrants not exercised by the Expiry Date will be deemed exercised on that date. Each Common Share purchase warrant will be exercisable to purchase one Common Share at a price of $1.50 until October 15, 2006. SAMSys has agreed with the private placees to use its best efforts to obtain a receipt for a prospectus in each of the jurisdictions in which the prospectus is filed within 90 days of the closing of the private placement, failing which each Special Warrant shall be exercisable into 1.08 Common Shares and 0.54 of a Common Share purchase warrant.
BTG currently holds 8,000,000 Common Shares of SAMSys and 2,500,000 non- voting convertible special shares of SAMSys (the 'Special Shares'). On the exercise of the Special Shares, the Special Warrants and the underlying Common Share purchase warrants (and assuming SAMSys receives a receipt for a prospectus by the 90-day deadline referred to above), BTG would hold 11,700,000 Common Shares, representing 25.7% of the outstanding shares of that class.
The Special Warrants were acquired by BTG for investment purposes only and BTG has no present intention of acquiring additional shares in the Company, except upon the exercise of Special Warrants and underlying Common Share purchase warrants. BTG is not acting jointly or in concert with any other person in respect of its acquisition of the Special Warrants or its holdings of any other SAMSys securities.
About BTG
BTG finds, develops and commercializes emerging technologies in the life and physical sciences. These innovations are protected by a strong portfolio of intellectual property that BTG develops and enhances. BTG then captures the value in these technologies through licensing and venturing activities. From the origins of its business in 1949, BTG has commercialized major innovations such as Magnetic Resonance Imaging (MRI), recombinant factor IX blood-clotting protein, Campath(R) (alemtuzumab) and Multilevel Cell (MLC) memory. BTG is quoted on the London Stock Exchange under the symbol 'BGC'and operates from offices in London and Philadelphia, with representation in Tokyo. BTG operates through wholly owned subsidiaries, BTG International Ltd. and BTG International Inc. in the UK and USA, respectively. Further information on BTG can be found at www.btgplc.com.
About SAMSys Technologies Inc.
SAMSys Technologies Inc. (SAMSys), founded in 1995, is a world-leading provider of radio frequency identification (RFID) hardware solutions and RFID integration consulting services designed to evaluate and recommend optimal RFID solutions to enhance existing business process. SAMSys offers a family of products to simplify the installation and ensure the ongoing performance of the overall RFID hardware infrastructure. SAMSys is a public company whose shares are listed for trading on the TSX Venture Exchange under the symbol: 'SMY'. Visit SAMSys at: www.samsys.com and www.investorfile.com. |
