VendTek announces $860,000 private placement of Debenture Units
11 Septiembre 2012 - 8:00AM
PR Newswire (Canada)
TSX Venture Exchange: VSI VANCOUVER, Sept. 11, 2012 /CNW/ - VendTek
Systems Inc. ("VendTek" or the "Company") is pleased to announce
that it plans to conduct a non-brokered private placement of 860
debenture units (the "Debenture Units"), with each Debenture Unit
consisting of one 6% unsecured convertible debenture of the Company
having a principal amount of $1,000 (the "Debentures"), and 1,000
warrants (each, a "Warrant") to purchase one common share of the
Company (the "Private Placement"). The Debentures will each
mature on the date that is two years from the closing of the
Private Placement and entitle the holder thereof to acquire one
common share of the Company at a price of $0.11 per common share on
conversion. Each Warrant is exercisable for two years from the
closing of the Private Placement to acquire one common share of the
Company at a price of $0.15 per common share. Privinvest
Offshore SAL (Holding) ("Privinvest Offshore"), the Company's
largest shareholder, is intended to be the sole subscriber for
Debenture Units. To the best of the Company's knowledge, Privinvest
Offshore currently holds 19,203,833 common shares, representing
approximately 33.01% of the Company's issued and outstanding common
shares, as well as 4,126,666 common share purchase warrants and a
$750,000 principal amount convertible debenture of the
Company. Upon completion of the Private Placement, Privinvest
Offshore will hold 19,203,833 Common Shares, representing 33.01% of
the Company's issued and outstanding common shares, as well as
4,986,666 common share purchase warrants, a $750,000 principal
amount convertible debenture of the Company and a $860,000
principal amount convertible debenture of the Company. The Company
intends to use the net proceeds from the sale of the Debenture
Units to continue the Company's expansion plans for its Brazilian
operations. As the Company's Brazilian subsidiary continues
to increase the number of transactions that it processes, it needs
to acquire additional inventory and will require greater working
capital to support its growth initiatives. No finder's fee will be
payable in connection with the issuance of the Debenture Units. The
Private Placement is subject to regulatory approval, and all
securities issued in connection with Private Placement will be
subject to a four-month and one day hold period under applicable
securities laws. About VendTek VendTek develops and licenses
automated transaction system software and supporting technologies.
VendTek's customers, subsidiaries and its Now Prepay division use
e-Fresh™ software to build electronic, prepaid services networks
that enable consumers to purchase prepaid products and services via
POS and self-serve terminals connected to a central server. This
system creates significant value through improved efficiencies
compared to a traditional distribution model. e-Fresh™ reduces
shrinkage and inventory requirements for vendors while improving
consumer access to prepaid products and services by completely
eliminating physical cards and vouchers. VendTek has deployed its
software around the world including Canada, United States, Asia,
the Middle East and Africa. For further information please visit
the Company's websites www.vendteksystems.com and
www.nowprepay.com. Forward-Looking Information This news release
contains statements which are not current statements or historical
facts and are "forward-looking information" within the meaning of
applicable Canadian securities laws. All statements, other than
statements of historical fact, contained in this news release
constitute forward-looking information. Wherever possible, words
such as "plans", "expects" or "does not expect", "budget",
"forecasts", "projections", "anticipate" or "does not anticipate",
"believe", "intent", "potential", "strategy", "schedule",
"estimates" and similar expressions or statements that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved and other similar expressions
have been used to identify forward-looking information. These
forward-looking statements relate to, among other things, the
completion of the Private Placement and the Company's expectations
regarding the use of proceeds from the Private Placement. Although
the forward-looking information in this news release reflects the
Company's current beliefs on the date of this news release based
upon information currently available to management and based upon
what management believes to be reasonable assumptions, the Company
cannot be certain that actual results, performance, achievements,
prospects and opportunities, either expressed or implied, will be
consistent with such forward-looking information. By its very
nature, forward-looking information necessarily involves
significant known and unknown risks, assumptions, uncertainties and
contingencies that may cause the Company's actual results,
assumptions, performance, achievements, prospects and opportunities
in future periods to differ materially from those expressed or
implied by such forward-looking information. These risks and
uncertainties include, among other things, revenue growth,
operating results, the market demand for the Company's products,
product development, and litigation as well other factors described
in the Risks Related to our Business Section in the Company's 2011
annual Management Discussion and Analysis. There may be other
factors that cause results, assumptions, performance, achievements,
prospects or opportunities in future periods not to be as
anticipated, estimated or intended. There can be no assurances that
forward-looking information and statements will prove to be
accurate, as many factors and future events, both known and unknown
could cause actual results, performance or achievements to vary or
differ materially, from the results, performance or achievements
that are or may be expressed or implied by such forward-looking
statements contained in this news release. Accordingly, all such
factors should be considered carefully when making decisions with
respect to the Company, and prospective investors should not place
undue reliance on forward-looking information. The Company assumes
no obligation to update or revise forward-looking information to
reflect changes in assumptions, changes in circumstances or any
other events affecting such forward-looking information, except as
required by applicable law. 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. VendTek Systems Inc.
CONTACT: Samantha White at 604-805-4653 or 1-800-806-4958or
investment@vendteksystems.com.
Copyright
VendTek Systems Inc. (TSXV:VSI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
VendTek Systems Inc. (TSXV:VSI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024