/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER,
June 15, 2015 /CNW/ -
Smartcool Systems Inc. (TSXV: SSC) (the "Company") announces
that, further to its press release of March
27, 2015, it has issued replacement debentures to 8 persons
in the aggregate principal amount of $210,149, together with an aggregate of 210,149
non-transferable share purchase warrants, to refinance debentures
that expired on March 1, 2015.
The replacement debentures are not convertible, bear interest at
12% per annum and provide for a partial payment of principal on
September 30 2015, followed by one
balloon payment of principal and interest at maturity on
March 31, 2016. Each
non-transferable share purchase warrant provides entitles the
holder to purchase one common share of the Company at an exercise
price of $0.06 per share until the
warrants expire on March 31,
2016.
The Company intends to refinance an additional $37,133 worth of the debentures that matured on
March 1, 2015, for an aggregate total
principal amount of $247,282.
The debentures issued in connection with the closing of the
Financing are not convertible and are subject to restrictions on
resale that expire on October 13,
2015.
About Smartcool
Smartcool Systems Inc. (TSXV: SSC) provides cutting edge
energy efficient and energy cost reduction solutions for businesses
around the world. The ECO3 and ESM are Smartcool's unique
retrofit technologies that reduce the energy consumption of
compressors in air conditioning, refrigeration and heat pump
systems by 15% to 20%, giving a return on investment in 12 to 36
months.
On behalf of Smartcool Systems Inc.
George Burnes, President
604.669.1388
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE SmartCool Systems Inc.