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Gold/Mining/Energy : Unitec Int. Controls Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Howard Jampolsky who wrote (536)	8/10/1998 3:14:00 PM
From: csm	Read Replies (1) \| Respond to of 856

Howard, Is it correct to assume that this is cheaper money than the loan that is being retired? The convertibles would be dilutive, above par, but does retiring the loan negate some other dilution that might have been associated with the loan? Do you know what I mean? I am basically asking if this is another increase in the shares outstanding? Thanks. Stuart. ------------ Unitec International Controls Corp UIC Shares issued 21,209,129 Aug 6 close $0.29 Mon 10 Aug 98 News Release Mr. John Smyth reports Unitec has arranged a $500,000 private financing, consisting of a $300,000 convertible debenture and a $200,000 term loan. The debenture will have a two year term, convertible to shares at 40 cents in the first year and at 45 cents in the second. The company has agreed to pay a bonus of 50,000 shares to the lender. Proceeds will be used to retire an existing loan of $200,000 and provide an additional $300,000 to improve the company's working capital position and to accelerate production of in-house projects. The company currently has an order backlog of over $5-million, and is completing 14 projects in Brazil, Chile, St. Vincent, Malaysia and North America. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

To: Howard Jampolsky who wrote (536)	8/10/1998 10:27:00 PM
From: Howard Jampolsky	Read Replies (2) \| Respond to of 856

UNITEC ARRANGES $500,000 FINANCING Subject to regulatory approval, Unitec is pleased to announce the arrangement of $500,000 in private financing, consisting of a $300,000 Convertible Debenture and a $200,000 term loan. The Debenture will have a two year term, convertible to common shares of the Company at $0.40 in the first year and $0.45 in the second year. Subject to regulatory approval, the Company has agreed to pay a bonus of 50,000 shares to the lender. The proceeds of this financing will be used to retire an existing loan in the amount of $200,000 and provide an additional $300,000 to improve the Company's working capital position and to accelerate production of in-house projects. Unitec currently has an order backlog in excess of $5 million, and is completing a total of 14 projects in Brazil, Chile, St. Vincent, Malaysia as well as North America. Unitec is an emerging growth company specializing in advanced technology telemetry, SCADA (Supervisory Control and Data Acquisition) systems and environmental monitoring equipment for the water, electricity, oil & gas and transportation sectors. It distributes its products and services through an expanding network of independent agencies in North and South America, the Caribbean, Middle East and S. E. Asia. For further information or to obtain a current Fact Sheet, please contact Howard Jampolsky, or Tina Hoogeveen at (604) 420-8025 or email adminuic@unitec.ca. Updated product, corporate or trading information may be accessed on Unitec's Internet Homepage at: unitec.ca. On Behalf of the Board of Directors, "John B. Smyth" John B. Smyth, President and Director