MONTREAL, Dec. 10 /CNW Telbec/ - BUS Systems Inc. (TSX-V: BUS) announces
that it intends to proceed with a private placement for gross proceeds of
$240,580. In connection with this offering, 3,436,857 units will be issued to
Fier Ville-Marie, s.e.c., an insider of BUS, at a price of $0.07 per unit.
Each unit will consist of one common share and one warrant. Each warrant will
entitle the holder to acquire one additional common share of BUS at a price of
$0.07 for a period of five (5) years.
The proceeds from the private placement will be used for
commercialization, technology development and working capital purposes. This
private placement is subject to the approval of the TSX Venture Exchange.
BUS operates an interactive, transactional internet portal for the
management, processing and follow-up of insurance claims, including management
of relations and the exchange of information between the participants.
The Company's mission is to offer an evolving, integrated electronic
solution that allows those involved in the claims sector or automotive events
industry to come together to exchange information, perform all of the
transactions required within the framework of their respective activities and
continuously improve the efficiency of claims processing.
For additional information about BUS, visit the Company's website at
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
For further information:
For further information: BUS Systems Inc.: Claude Savard, President and
CEO, (514) 350-5252, email@example.com; SOLAK Communications: François
Kalos, (450) 993-0828, firstname.lastname@example.org