GUELPH, ON, Dec. 23 /CNW/ - ENPAR Technologies Inc. ("ENPAR" or "the
Company"), announces that, the Company closed a non-brokered private
placement on December 23, 2010 for 5,712,500 Units at $0.20 per share
representing $1,142,500 in the aggregate. Each unit consists of one
(1) Common Share and one half (1/2) Common Share Purchase Warrant
("Warrant"). A full purchase warrant will entitle the holder to
purchase one (1) additional common share, exercisable for a period of
two (2) years from the date of issuance at an exercise price of $0.30.
The proceeds of the offering will be used for general corporate purposes
and working capital.
The Company will pay commissions to the Agents which will not exceed
The private placement is subject to regulatory approval by the TSX
About ENPAR Technologies Inc.
ENPAR is a "Technology Company" applying its patented and proprietary
"Electrochemical Technologies" to the treatment of waste water,
desalination water and drinking water contaminated by metals or
nutrients, i.e., nitrate/ammonia associated with the mining, metal
processing, chemical, agricultural, municipal and waste management
sectors. The common shares of the Company trade on Tier ll of the TSX
Venture Exchange under the symbol "ENP".
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements within the meaning
of the "safe harbour" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
risks and uncertainties and other factors that may cause ENPAR
Technologies Inc. results to differ materially from expectations. These
include risks relating to market fluctuations, property performance and
other risks. These forward-looking statements speak only as of the
date hereof. Certain statements contained in this press release and in certain
documents incorporated by reference into this press release constitute
forward-looking statements. The use of any of the words "anticipate",
"continue", "estimate", "expect", "may", "will", "project", "should",
"believe" and "confident" and similar expressions are intended to
identify forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such
forward-looking statements. ENPAR believes that the expectations
reflected in those forward-looking statements are reasonable but no
assurance can be given that these expectations will prove to be correct
and such forward-looking statements included in, or incorporated by
reference into, this press release should not be unduly relied upon.
These statements speak only as of the date of this press release. ENPAR
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE ENPAR TECHNOLOGIES INC.
For further information: For further information:
Gene S. Shelp, Ph.D., P.Geo., President and CEO
Tel: (519) 836-6155
Fax: (519) 836-5683
Web Site: www.enpar-tech.com