Vendtek closes $860,000 private placement of Debenture Units
26 Septiembre 2012 - 4:40PM
PR Newswire (Canada)
TSX Venture Exchange: VSI VANCOUVER, Sept. 26, 2012 /CNW/ - VendTek
Systems Inc. ("VendTek" or the "Company") is pleased to announce
that it has closed its previously announced 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 one warrant for each share issuable upon
conversion of the Debentures (each, a "Warrant") to purchase one
common share of the Company, for a total of 7,818,181 Warrants
being issued (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, was the sole subscriber for Debenture Units.
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
was 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, which will expire on January 27, 2013. 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. 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
Real-Time news about (TSX Venture Exchange): 0 recent articles
Más de Vendtek Systems Artículos de Noticias