SAINT-ÉPHREM-DE-BEAUCE, QC, Dec. 12, 2013 /CNW Telbec/ - Sigma
Industries Inc. ("Sigma" or the "Company") (TSXV: SSG) is pleased to
announce its completion on December 11, 2013 of a private placement of
a loan and secured convertible debentures for a principal amount
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. Of
this principal amount, $175,000 was purchased by insiders.
Net proceeds from the placement will be used to increase the Company's
This private placement remains subject to final approval by the TSX
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