CALGARY, March 22 /CNW/ - TransAKT Ltd. (OTCBB: TAKDF, "TransAKT")
announced today that it has closed a private placement of 1,250,000 shares at
US$0.12 per share for total proceeds of US$150,000 on Friday March 16, 2007. A
commission of 10% equal to 100,000 shares was paid in connection with the
closing of this offering. Additionally, management will immediately offer for
sale a further offering of 5.8 million shares at US$0.12, and expects to close
this further US$700,000 offering in approximately two weeks.
"The closing of this private placement shows continued investor
confidence in our business strategy. The funds raised through this placement
will allow the company to move forward with our current plans," says James Wu,
President of TransAKT Ltd.
Proceeds from these offerings will be used by the company for the final
payment of US$300,000 to Taiwan Halee International Co. Ltd. following
TransAKT's acquisition of the company announced in November 2006, and to
expand operations into the rapidly growing market for telecommunication
products in China. TransAKT's focus in China will be on development of a mid-
to hi-end market for our multi-line cordless phone system, distribution of
brand name consumer electronics products (fax machines, and digital cordless
and multi-line phone systems from brands such as Sanyo, Panasonic and
Siemens), and to provide product designs to major telecommunications
manufacturers including Siemens.
TransAKT Ltd. is a global Voice over Internet Protocol ("VoIP") hardware
and network provider for commercial and residential users. The Company's
global corporate management team is based in Calgary and Taipei. Taiwan Halee
International Co. Ltd. ("HTT") is a wholly owned subsidiary of TransAKT Ltd.
The Company trades in the U.S. as an OTCBB foreign corporation listing under
the ticker TAKDF.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, including, but not limited to, statements
regarding the Company's beliefs about the HTT and its sales prospects, and
regarding TransAKT's ongoing ability to attract and acquire further
These forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ, including but not limited to, our
limited operating history and history of losses, and our inability to compete
effectively in the marketplace, and such other risks as identified in
documents filed with the Securities and Exchange Commission. All
forward-looking statements in this press release are based on information
available to us as of the date hereof, and we undertake no obligation to
update forward-looking statements to reflect events or circumstances occurring
after the date of this press release.
For further information:
For further information: James Wu, President (403) 290-1744; Christian
Nielsen (403) 290-1744, Email: email@example.com