TORONTO, Aug. 25 /CNW/ - LOREX Technology Inc. (the "Company") (TSX: LOX)
would like to provide additional information with respect to the proposed
issuance of series A convertible debentures (the "Debentures") and
subscription receipts (the "Receipts"). The terms and conditions of the
Debentures and Receipts can be found in the Company's press release dated
August 24, 2009.
The aggregate number of common shares to be issued on the exercise of the
Receipts and/or the conversion of the Debentures and Preference Shares, being
25,000,000 common shares, will equal approximately 92.4% of the Company's
current and issued outstanding capital.
About LOREX Technology Inc.:
LOREX provides businesses and consumers with leading edge video
surveillance security solutions and sells its products through distinct market
channels under the LOREX and Digimerge brands. The LOREX brand, which caters
to both small business and consumer markets, is available in over 9,000 retail
locations across North America and the U.K. and has an established market
presence online selling through major e-tailers and through its in-house
webstore. The Digimerge division distributes its products through major
distributors in both North America and Europe. Both groups concentrate on the
sale of wired, wireless and IP security surveillance equipment including
cameras, digital video recorders and all-in-one systems.
LOREX subsidiaries include; LOREX Canada Inc., Digimerge Technologies
Inc., LOREX Corporation and Strategic Vista Corporation Limited, Hong Kong.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Certain information included in this news release contains statements
that are forward-looking, such as the statements about financing alternatives.
Such forward-looking information involves important risks and uncertainties
that could significantly affect anticipated results in the future, and,
accordingly, such results may differ materially from those expressed in any
forward-looking statements made by or on behalf of the Company. Full financial
statements along with Management's Discussion and Analysis can be obtained
from SEDAR at www.sedar.com
For further information:
For further information: Henry Schnurbach, Chief Executive Officer,
LOREX Technology Inc., Phone: (905) 946-8589 ext 123, www.lorextechnology.com