Private placement conditionally approved by TSX Venture Exchange
SAINT-ÉPHREM-DE-BEAUCE, QC, Dec. 5, 2013 /CNW Telbec/ - Sigma Industries
Inc. ("Sigma" or the "Company") (TSXV: SSG) announces that it is now in
a position to proceed with the private placement announced in its news
release of October 28, subject to final approval by the TSX Venture
This private placement will consist of: (i) a loan of $800,000 for a term of eight years, bearing interest at an
annual rate of 10%, payable quarterly, and convertible at any time
during the five years following its disbursement, in whole or in part,
into common shares of Sigma, at a price of $0.05 per share for an
initial amount of $500,000 during the first year of the loan and $0.10
per share for the balance during the five years following disbursement;
and (ii) five-year debentures totalling an amount of $275,000, bearing interest
at an annual rate of 10%, payable quarterly, and convertible at any
time, in whole or in part, into common shares of Sigma at a price of
$0.10 per share. A portion of the debentures will be subscribed to by
Contrary to what was announced on October 28, Sigma had not at that date
obtained the conditional approval of the Exchange. This approval has
now been obtained.
ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SSG), a manufacturing company specializing in the production of
composite components, has four operating subsidiaries and employs 400
people. The Company is active in the heavy-duty truck, coach, transit,
machinery and wind energy markets. Sigma sells its products to original
equipment manufacturers and distributors in the United States, Canada
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: SIGMA INDUSTRIES INC.
For further information:
Sigma Industries Inc.
President and Chief Executive Officer