MONTREAL, Jan. 29 /CNW Telbec/ - This press release is issued by Mr. Myer
Bentob as required by Canadian provincial securities legislation. Mr. Bentob
announces that he has acquired 7,125,000 common shares of Montec Holdings Inc.
in connection with Montec's previously-announced acquisition of the remaining
49% of Datex Billings Services Inc.'s securities held by its minority
shareholders (see Montec's press release dated January 27, 2009). The
7,125,000 common shares acquired by Mr. Bentob represent, to Mr. Bentob's
knowledge, 23% of the issued and outstanding common shares of Montec. As a
result of the acquisition, Mr. Bentob owns 12,531,500 common shares of Montec,
representing, to Mr. Bentob's knowledge, 40.5% of the currently issued and
outstanding common shares.
Mr. Bentob also holds options and warrants to purchase up to an aggregate
of 2,945,734 additional common shares of Montec. In the event that all of the
options and warrants are fully exercised, Mr. Bentob's holdings would
represent, to Mr. Bentob's knowledge, 45.6% of the issued and outstanding
common shares of Montec, calculated on a partially diluted basis assuming the
exercise of options and warrants issued to Mr. Bentob only.
Of the 7,125,000 common shares acquired by Mr. Bentob, 5,000,000 common
shares were issued pursuant to a subscription agreement at a price of $0.08
per share, for total cash consideration to Montec of $400,000, and 2,125,000
common shares were issued in settlement of $170,000 in prior cash advances to
Montec at a deemed issue price per share of $0.08.
The shares were acquired by Mr. Bentob for investment purposes. Mr.
Bentob may, directly or indirectly, depending on market and other conditions,
acquire beneficial ownership of, control or direction over, additional common
shares of Montec through market transactions, private agreements or otherwise.
Mr. Bentob may, depending on market and other conditions, sell any or all of
his common shares of Montec.
For further information:
For further information: Myer Bentob, (514) 630-7262