MONTREAL, March 7 /CNW/ - Montec Holdings, (TSX-V: MTE) ("Montec" or "the
Company"), a holding company focused on acquiring and developing a diversified
portfolio of high-growth technology companies, today announced that it has
engaged Union Securities Ltd. to act on a best efforts agency basis in
connection with a private placement offering (the "Offering") of up to
6,000,000 units of securities of the Company priced at $0.17 per unit, to
raise gross proceeds between $500,000 and $1,020,000.
Each unit consists of 1 common share at a price $0.17 and 1 common share
purchase warrant. Each full warrant will entitle the holder to purchase one
common share of the Company at a price of $0.25 per share for a period of
24 months after the closing date of the Offering. The Company will use the net
proceeds from the Offering to fund general working capital purposes and
The Offering is expected to be completed on March 19th, 2007. No
assurance can be given that the total number of units available under the
Offering will be subscribed for, or that the Offering will be completed.
Completion of the private placement is subject to receipt of all required
regulatory and other approvals, including acceptance by the TSX Venture
The Company also announced today that Mr. Jeffrey A. Mandel has resigned
as a member of the Board of Directors. His resignation was acknowledged by
The Company expects to appoint a new Director shortly whose nomination
will be communicated in time.
About Montec Holdings Inc.
Montec Holdings Inc. is listed on the TSX Venture Exchange (TSX-V: MTE).
Montec's objective is to create shareholder value by building a profitable
technology entity with high-growth potential. Structured as a holding company,
it will acquire, in each case, at least 51% shareholdings of a number of
synergetic companies and it will develop a diversified portfolio of
high-growth technology companies. The Company recently completed the
acquisition of Datex Billing Services Inc. For more information about Montec
Holdings, please visit our website at www.montecholdings.com.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Myer Bentob, Chairman and Chief Executive
Officer, Montec Holdings Inc., Tel.: (514) 630-7262, Email:
firstname.lastname@example.org; Eric Bouchard, Investor Relations, The Equicom
Group, Tel: (514) 844-7997, Email: email@example.com