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Gold/Mining/Energy : Senco Sensor SSZ introducing new CO sensor in January
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To: jbal who wrote (29)5/20/1998 1:20:00 AM
From: jbal  Read Replies (1) of 69
 
500,000 unit private placement

Senco Sensors Inc SSZ
Shares issued 8,598,531 May 19 close $2.31
Tue 19 May 98 News Release
Mr. Nasim Tyab reports
The company has arranged a private placement of 500,000 units at $2.00.
Each unit will consist of one share and one warrant to purchase an
additional share for two years at $2.00 during the first year and at $2.60
during the second.
The company has appointed Foresight Capital to act as agent with respect to
the sale of the units in consideration for which, Foresight shall receive a
commission of 10 per cent on the first $300,000 and 7.5 per cent of the
proceeds over $300,000.
Proceeds of $1,000,000 will be used to finance production costs associated
with the company's residential carbon monoxide gas detector, to reduce
accounts payable and for general working capital.
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