GC-Global Capital Corp. Announces That Its Client Company, Cantronic Systems Inc., has Completed a $2,500,000 Private Placement
07 Diciembre 2010 - 8:32AM
Marketwired
GC-Global Capital Corp. ("Global Capital") (TSX VENTURE: GDE.A) is
pleased to announce that its client company, Cantronic Systems Inc.
("Cantronic") (TSX VENTURE: CTS) announced the completion of a
private placement offering for gross proceeds of $2,471,850.
Cantronic has issued 8,239,500 Units at a price of $0.30 per Unit.
Each Unit consists of one common share in the capital of Cantronic
(a "Share") and half of one common share purchase warrant, (each
whole warrant a "Warrant") with each Warrant entitling the holder
thereof to purchase one additional Share (a "Warrant Share"), at an
exercise price of $0.45 per Warrant Share for a period of 2 years
following the closing date of the Offering. Net proceeds of the
offering will be used for general corporate purposes.
Chief Executive Officer of Global Capital, Jason Ewart,
commented "Since November, 2009, when Global Capital provided its
first bridge loan to Cantronic, the company has expanded its
operations. During the fall of 2010, Cantronic Systems reported a
second quarter that showed a year-over-year increase of quarterly
sales of 29.6%, entered a strategic cooperative leasing agreement
with International Far Eastern Leasing Co., Ltd. and was awarded a
new supply contract with a South Korean Defence Integrator." He
added "With the proceeds from their recent $2.5 million equity
financing we look forward to following Cantronic's progress in
2011."
Subsequent to the closing of the private placement, Global
Capital's bridge loan to Cantronic has been fully repaid.
About GC-Global Capital Corp.
Global Capital is a merchant bank which provides bridge loan
services (asset back/collateralized financing), to companies across
many industries such as oil & gas, mining, real estate,
manufacturing, retail, financial services, technology and
biotechnology. In 2009, the Company launched the GC-Global Capital
Lending Partners Limited Partnership (the "Fund") which provides
secure bridge loans to micro-cap and small-cap companies. The
Fund's investment objective is to provide investors with a high
yield and the preservation of capital. As the General Partner of
the Fund, Global Capital participates alongside the fund in these
bridge loan transactions and receives a management fee and
performance bonus for its services. For further information, please
contact Jason G. Ewart at (416) 488-7760 or visit our website at
www.gcglobalcapital.ca.
About Cantronic Systems Inc.
Cantronic manufactures, distributes, and provides training and
services in the fields of infrared vision and video security
surveillance technologies, specializing in passive and active
infrared cameras, infrared illuminators, low light infrared
sensitive CCD cameras and long-range night vision surveillance
systems for homeland security and surveillance applications.
Cantronic, through its US subsidiary QWIP Technologies, Inc.
("QWIPTECH"), holds a worldwide, exclusive license from the
California Institute of Technology ("Caltech") to produce and sell
infrared detectors and sensors based on Caltech's Quantum Well
Infrared Photodetector technology.
Cantronic, through its China subsidiaries Actiontop Electronics,
Cantronic Security Systems (China) Co. Ltd., Beijing Advanced
Videoinfo Technology Co. Ltd. ("AVINFO") and Shenzhen Huanghe
Digital Technology Co. Ltd. ("Yellow River"), provides digital
networked video surveillance solutions to government and corporate
customers in China.
Cantronic is a Tier 1 issuer on the Exchange, trading under the
symbol CTS. For further information about Cantronic and QWIPTECH,
please visit our websites at www.cantronics.com and
www.qwip.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: GC-Global Capital Corp. Jason G. Ewart (416) 488-7760
www.gcglobalcapital.ca
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