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
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 firstname.lastname@example.org.