QUEBEC CITY, April 19 /CNW Telbec/ - Lyrtech Inc. (Lyrtech or the Company) (TSXV: LTK), a Worldwide leader in digital signal processing
technologies, announces that it concluded a new financing through a
private placement of units, for an amount of $445,999.99 and 2,973,333
Each unit is comprised of one common share of Lyrtech at a price of
$0.15 and one warrant. Each whole warrant entitles the holder to
acquire one common share of the Company, at a price of $0.25 per share
for a period of 24 months following the closing date. The securities
issued under this placement will be subject to a restricted period on
resale for four months and one day.
"We are proud to witness the strong belief in Lyrtech's development and
projects through this investment," said Louis Bélanger," CEO of
The proceeds of this placement will be used as working capital of the
Company. This financing is subject to the approval of the TSX Venture
Exchange, Inc. and the regulatory authorities.
Lyrtech, a proud member of the Texas Instruments Design House Network,
develops and manufactures advanced digital signal processing solutions
for companies worldwide, a vital technology to network and wireless
communications, audio and video processing, as well as electronic
systems in all fields of technology. Lyrtech offers a full range of
DSP-FPGA development platforms, as well as design and manufacturing of
electronic products. Lyrtech works in partnership with industry leaders
such as Texas Instruments, The MathWorks, and Xilinx. Lyrtech's
customers include many prestigious names of the consumer electronics,
telecommunications, aerospace, and defence fields.
The TSX Venture Exchange, Inc. has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
SOURCE LYRTECH INC.
For further information:
Louis N. Bélanger, president and chief executive officer