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Microcap & Penny Stocks : SMY - SAMSys Technologies Inc -- Ignore unavailable to you. Want to Upgrade?

To: terry astle who wrote (31)	10/4/1999 5:40:00 PM
From: LBell	Respond to of 342

SAMSys Technologies Inc. Completes Private Placement Financing. Financing Proceeds will Accelerate Commercialization of New Generation Technology Stock Symbol: SMY:ME Montreal Exchange TORONTO, Oct. 4 /CNW-PRN/ - SAMSys Technologies Inc. (SMY:ME): SAMSys Technologies Inc. (the ``Company') announced today the completion of a $547,500 private placement financing by way of the issuance of 730,000 Common Share Units at price of $0.75 per Unit. Each Unit consisted of one common share and 1 common share purchase warrant exercisable for 2 years from the date of this financing closing. Each warrant is exercisable into one common share at a price of $1.00. Common shares issued from this financing are subject to resale restrictions for six months. This private placement financing was un-brokered. The proceeds from this financing will be applied primarily towards accelerating and concluding the final stages of technical development for the Company's new product. The Company expects to be able to offer the product for widespread implementation beginning in January 2000. About SAMSys: SAMSys Technologies Inc. is the world leader in the design and supply of Radio Frequency Identification (RFID) hardware solutions for high-volume pallet and reusable container tracking applications in global Logistics Management, Materials Handling and Supply Chain industries. The Company's technology, the SAMSys© FasTrak Radio Frequency Identification (RFID) system, is a proprietary automatic data collection medium of RFID tags and readers which enables the tracking of goods and assets without the need for direct contact or operator intervention, providing unique functional and cost benefits versus other available technologies. SAMSys Technologies Inc. is a public company whose shares are listed for trading on the Montreal Exchange under the symbol: ``SMY'. The Company has a total of 18,835,965 shares fully diluted outstanding. For more information about SAMSys, visit the web site: www.samsys.com and www.investorfile.com.