Proceeds will be used to expand Sofame's business activities in France
and the European Community and other corporate objectives
MONTREAL, March 28 /CNW Telbec/ - Sofame Technologies (TSX-V: SDW), a
leading Canadian manufacturer of innovative commercial-industrial heat
recovery equipment, is in the process of organizing a private placement of up
to $2,000,000. The proceeds from the placement will be used to fund the
expansion of Sofame's business activities in France and the European
Community, as well as for working capital, marketing, and other corporate
The private placement consists of a maximum of 6,557,377 units at an
issue price of $0.305 to "accredited investors" resident in Quebec, Ontario
and France, for gross proceeds to Sofame of up to $2,000,000. Each unit is
comprised of one common share and one-half of one common share purchase
warrant, with each whole warrant entitling the holder thereof to purchase one
additional common share of Sofame at a price of $0.50 for a period of twelve
While there is no agent for the placement, Sofame may pay a finder's fee
to Notre-Dame Capital Inc. in connection with persons introduced to Sofame who
participate in the private placement. The finder's fee will consist of a cash
commission of 10% of the gross proceeds raised from such persons and
non-transferable warrants entitling Notre-Dame to purchase up an aggregate of
10% of the number of shares sold to persons introduced by Notre-Dame. Each
warrant will entitle Notre-Dame to purchase one additional common share of
Sofame at a price of $0.50 for a period of twelve months.
The placement will be effected pursuant to prospectus exemptions under
applicable securities legislation and is expected to close on or before April
4, 2008. The placement is subject to receipt of all necessary corporate and
regulatory approvals, including that of the TSX Venture Exchange. The
securities issued in the placement will be subject to a four-month "hold
period" under applicable securities legislation and the policies of the
TSX Venture Exchange.
There are currently 63,914,161 issued and outstanding common shares of
SOFAME Technologies Inc. custom engineers and manufactures unique,
high-efficiency direct-contact heat recovery and hot water heating systems.
Sofame's products extract up to 99% of heat from flue gases depending on the
application, and also from wastewater, and return the energy in the form of
high temperature hot water or pre-heated make-up air. In addition to
economically recovering heat from waste energy, Sofame's products also help
customers to significantly reduce greenhouse gas emissions.
Using world leading patented green technology, the Company serves
building owners, institutional, industrial and commercial markets through a
network of dedicated engineering representatives.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Kelly Hamblin, (514) 523-6545 ext. 233,
firstname.lastname@example.org; Jérôme Cliche, (514) 523-6545 ext. 249,