MONTREAL, Aug. 29 /CNW Telbec/ - BUS Systems Inc. ("BUS" or the
"Corporation") (TSX-V: BUS), announces that it intends to issue a share bonus
in favour of Fier Boréal 02, L.P. ("Boreal") in accordance with what had been
announced in the press release of last March 12.
On March 12, 2008, Boréal granted a loan of a maximum amount of
$250,000 in favour of BUS, said loan being disbursed in various tranches at
the sole discretion of Boréal and bearing interest at a rate of 15% annually.
The TSX Venture Exchange conditionally approved that BUS grant an additional
5% premium equal to 5% of the principal of each disbursement, payable by the
issuance of BUS shares, at a price per share equal to the greater of (i) the
discounted market price at the date of the disbursement and (ii) $0.05.
As at August 29th, Boréal has disbursed the sum of $224,158.18 to BUS.
Consequently, BUS intends to issue a total of 224,158 shares at a price of
$0.05 per share in payment of the premium.
The Corporation's shares trade on the TSX Venture Exchange under the
symbol "BUS". For additional information on BUS, please consult the Company's
website at www.busconnect.com.
This press release contains "Forward-Looking Statements" pursuant to the
securities legislation which are based on certain estimates and expectations.
Statements which are not based on historical fact, in particular statements on
management's views and expectations, are Forward-Looking Statements. These
statements are subject to certain risks and uncertainties and the actual
results could differ materially from those presented. The Company is under no
obligation to update any Forward-Looking Statement to take into account any
new information, future event or any other factor.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
For further information:
For further information: BUS Systems Inc.: Michel Maheux, President and
Chief Executive Officer, (514) 386-3018, email@example.com; SOLAK
Communications: François Kalos, (450) 993-0828, firstname.lastname@example.org