VANCOUVER, June 12 /CNW/ - Smartcool Systems Inc. (TSXV: SSC) is pleased
to announce that it has arranged a non-brokered private placement (the
"Private Placement") of up to 3,125,000 share purchase units (the "Units") at
a price of $0.16 per Unit for gross proceeds of up to $500,000.
Each Unit consists of one common share (a "Share") and one-half of one
common share purchase warrant (a "Warrant"). One whole Warrant entitles the
holder to purchase an additional Share at a price of $0.30 per Share for a
period of one year from the date of issuance. Shares purchased are subject to
a four month hold period.
The proceeds from the Private Placement will be used to further develop
SmartCool's proprietary energy efficiency technology and to establish the
expansion of the Company's sales and distribution network within North America
focusing on British Columbia and otherwise provide working capital.
A finder's fee may be payable on the Private Placement.
The private placement is subject to the acceptance for filing of the TSX
About Smartcool Systems Inc.
Smartcool Systems Inc. (SSC: TSX.V) manufactures and distributes the
Smartcool Energy Saving Module (ESM)(TM) and the ECO(3)(TM), which make
refrigeration and air conditioning systems more efficient, resulting in proven
cost savings, reduced energy consumption, and a smaller carbon footprint. The
Smartcool ESM(TM) can be retrofitted to existing refrigeration and air
conditioning systems and is compatible with all known control systems. More
than 26,000 units have been installed worldwide for customers such as
supermarkets, food distributors, telecommunications companies, hospitals, and
hotels. Smartcool's new ECO(3)(TM) provides the same environmental and
cost-saving benefits to residential and commercial customers using one and two
compressor cooling systems. (www.smartcool.net)
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
For further information:
For further information: Investors: Allan Thompson - Phone: (604)
669-1388 or 1-888-669-1388 - Email: firstname.lastname@example.org; Customers: Chris
Lefaivre - Phone: (604) 669-1388 - Email: email@example.com