TORONTO, Sept. 1, 2011 /CNW/ - LOREX Technology Inc. ("Lorex" or the
"Company") is pleased to announce the listing and admission of its
common shares for trading on the TSX Venture Exchange ("TSXV").
Reuben Klein, President and CEO, remarked: "Achieving a listing on the
TSXV is an important milestone in the Company's development and a
testament to our sustained growth in recent years and bright prospects
for the future. Thanks to the concerted efforts of the Company's
management and employees, Lorex has become a recognized leader in the
video surveillance industry, providing cutting-edge security solutions
to businesses and consumers. We believe that our TSXV listing will
dramatically enhance our profile within the investment community."
The common shares of Lorex will commence trading on the TSXV under the
symbol "LOX" at the open of markets on September 2, 2011, and accordingly they will
be delisted from the NEX board of the TSXV at the close of trading on
September 1, 2011.
Concurrent with the Company's listing on the TSXV, 3,740,010 convertible
preference shares ("Preference Shares") were converted, in accordance
with their terms, into common shares on a one-for-one basis. As a
result, there are presently 35,134,288 common shares, 8,759,990
Preference Shares, and 150,000 class B special shares issued and
outstanding. A further 1,299,500 common shares are reserved for
issuance upon the exercise of outstanding stock options.
About LOREX Technology Inc.:
LOREX (TSXV: LOX) provides businesses and consumers with leading edge
video surveillance security solutions and sells its products under the
LOREX and Digimerge brands. The LOREX brand, which caters to both small
business and consumer markets, is available in thousands of retail
locations across North America and in the UK. The Digimerge division
distributes its products through major distributors in North America.
Both brands concentrate on the sale of wired, wireless and IP security
surveillance equipment including cameras, digital video recorders and
all-in-one systems. LOREX subsidiaries include; LOREX Canada Inc.,
LOREX Corporation and Strategic Vista Corporation Limited, Hong Kong.
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 LOREX Technology Inc.
For further information:
President & CEO
LOREX Technology Inc.
Phone: (905) 946-8589 ext 120