MONTREAL, July 8 /CNW Telbec/ - The Company has completed a private
placement of 1,000,000 shares offered at $0.25 for a total proceed of $250,000
on July 7, 2008. The shares will be subject to a four (4) months resale
In connection with this private placement, the Company has agreed to pay
a finder's fee to arm's-length parties of 4% of the gross proceeds raised that
will be paid with the issuance of 40,000 shares subject to the same resale
restriction period as above.
The net proceeds of this offering will be used for working capital and
identification and evaluation of a potential major transaction.
The Board of the Company will issue 53,850 options to its president,
François H. de Beaulieu and 25,000 options to Michel Lebeuf, director of the
Company. Their exercice price is $0.23 per share with a 5 year term.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
For further information:
For further information: François H. de Beaulieu, (514) 933-1503