VendTek amends terms of debenture financing
TSX Venture Exchange: VSI
VANCOUVER, Sept. 19, 2012 /CNW/ - VendTek Systems Inc. (TSX-V: VSI) ("VendTek" or the "Company") today announced that, in connection with the debenture unit financing announced on September 11, 2012, the number of warrants to be issued pursuant to such financing have been renegotiated from 860,000 to 7,818,181. The remaining terms of the debenture unit financing are unchanged from those previously disclosed.
"We are pleased with the continued support we have received from Privinvest," said Doug Buchanan, President and CEO of VendTek. "The proceeds from this financing will enable us to move more quickly to expand our network in Brazil, thereby providing us the opportunity to grow revenues from that important market."
No finder's fee will be payable in connection with the debenture unit financing.
The debenture unit financing remains subject to regulatory approval, and all securities issued in connection with the debenture unit financing will be subject to a four-month and one day hold period under applicable securities laws.
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.
SOURCE: VendTek Systems Inc.For further information:
Samantha White at 604-805-4653 or 1-800-806-4958 or email@example.com.