TORONTO, Feb. 18 /CNW/ - Active Control Technology Inc. ("ACT" or the
"Company") (TSX-V:ACT) is pleased to announce that it has reached an agreement
with the common share purchase warrant holders (the "Warrant Holders") from
the $0.50 Unit private placement dated November 13, 2007 to amend the strike
price of the attached $0.90 warrants to $0.20.
The Company intends to amend the terms of 5,176,000 common share purchase
warrants (the "Warrants") of the Corporation exercisable at $0.90 per share
until November 13, 2009 detailed in ACT's press releases dated November 2,
2007 and November 16, 2007. The exercise price of the amended Warrants (the
"Amended Warrants") is to be decreased to $0.20 per share and the expiration
date remains the same.
In accordance with the policies of the TSX Venture Exchange, the Amended
Warrants also contain an automatic "triggering event" whereby the exercise
term is accelerated to 30 days upon the trading price of the Company's common
shares exceeding $0.266 for 10 consecutive trading days. This will reduce the
average cost base for these subscribers of the November 2007 round to $0.35
per share upon exercise of the Amended Warrants.
The amendment to the exercise price of the Warrants is subject to
About Active Control Technology
ACT designs and markets wireless network control and communication systems
for buildings and extreme environments. Located in Burlington, Ontario,
Canada, the company trades publicly on the TSX Venture Exchange under the
symbol ACT. For more information, visit the company's website at
We make wireless work.(TM)
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Steve Barrett, President & C.E.O., Active
Control Technology Inc., Tel.: (905) 670-5500 ext. 202, Fax: (905) 592-9691,
Email: email@example.com, Website: www.activecontrol.com; Don
Hogarth, Hogarth Communications Inc., Tel.: (416) 565-8920, Email: