Active Control Technology announces financing



    TSX-V: ACT

    TORONTO, Nov. 2 /CNW/ - Active Control Technology Inc. (TSX-V:ACT) (the
"Corporation") is pleased to announce that it is undertaking a private
placement offering of 4,000,000 units of the Corporation at a price of $0.50
per unit, for gross proceeds of $2,000,000. Each unit will consist of one
common share of the Corporation and one share purchase warrant (each a
"Warrant"). Each Warrant will entitle the holder to acquire an additional
common share at the price of $0.90 per share for 2 years from Closing. The
private placement is anticipated to close before mid-November. The funds will
be used for general working capital.
    The Corporation will pay a finder's fee of 7% cash plus 10% Compensation
Options to Aberdeen Gould Inc. ("AGI") as finder. Each Compensation Option
entitles AGI to purchase one common share of the Corporation at a price of
$0.50 for 2 years from Closing.

    The transaction set out herein is subject to approval from the TSX
    Venture Exchange.


    About Active Control Technology

    ACT designs and markets wireless network control and communication
systems for buildings and extreme environments. Located in Burlington,
Ontario, Canada, the company trades publicly on the TSX Venture Exchange under
the symbol ACT. For more information, visit the company's website at
www.activecontrol.com.

    
                         We make wireless work.(TM)
    

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    Cautionary Note Regarding Forward-Looking Statements: This press release
contains forward-looking statements that involve risks and uncertainties,
which may cause actual results to differ materially from the statements made.
When used in this document, the words "may", "would", "could", "will",
"intend", "plan", "anticipate", "believe", "estimate", "expect" and similar
expressions are intended to identify forward-looking statements. Such
statements reflect our current views with respect to future events and are
subject to such risks and uncertainties. Many factors could cause our actual
results to differ materially from the statements made, including those factors
discussed in filings made by us with the Canadian securities regulatory
authorities. Should one or more of these risks and uncertainties, such as the
fact that any of the companies to whom proposals have been made can change the
technology that they specify in the plan, West Virginia has to approve the
plan, the proposals may not convert into sales or the Company may not have the
ability to meet all the orders, changes in demand for and prices for the
products of the Company or the materials required to produce those products,
labour relations problems, currency and interest rate fluctuations, increased
competition and general economic and market factors, occur or should
assumptions underlying the forward looking statements prove incorrect, actual
results may vary materially from those described herein as intended, planned,
anticipated, or expected. We do not intend and do not assume any obligation to
update these forward-looking statements. The reader is cautioned not to put
undue reliance on such forward-looking statements.

    %SEDAR: 00007946E




For further information:

For further information: Steve Barrett, President & C.E.O., Active
Control Technology Inc., Tel.: (905) 670-5500 ext. 202, Fax: (905) 592-9691,
Email: sbarrett@activecontrol.com, Website: www.activecontrol.com; Don
Hogarth, Hogarth Communications Inc., for ACT, Tel.: (416) 565-8920, Email:
dhogarth@sympatico.ca

Organization Profile

ACTIVE CONTROL TECHNOLOGY INC.

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