BURNABY, BC, Nov. 19 /CNW/ - Photon Control Inc. (the "Company") (TSX-V:
PHO) is pleased to report the closing of the non-brokered private placement
previously announced on October 24, 2007. As a result of the closing, the
Company issued 10,000,000 common shares at a price of $0.075 per share for
gross proceeds of $750,000.
The common shares are subject to a hold period expiring on March 17,
2008. Directors of the Company acquired 3,081,032 common shares under the
private placement for proceeds of $231,077.41. The proceeds of the private
placement will be used for accelerated commercialization of selected
innovative optic product lines and for working capital. The private placement
is subject to final approval of the TSX Venture Exchange.
About Photon Control Inc. www.photon-control.com
Photon Control Inc. develops and manufactures optoelectronic products for
measurement and control. All Photon's products have competitive advantages in
both performance and cost. Markets for Photon's products include semiconductor
capital equipment, oil and gas, power industry, life sciences and research.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents herein.
For further information:
For further information: Lauren Nickel, Investor Relations, (604)
422-8861 x 108, firstname.lastname@example.org