Private placement conditionally approved by TSX Venture Exchange
QUEBEC CITY, May 31, 2012 /CNW Telbec/ - Sigma Industries Inc. ("Sigma" or the "Company") (TSXV: SSG), announces that it received conditional approval on May 10 from the TSX Venture Exchange to proceed with a private placement.
Subject to compliance with the conditions of this approval, Sigma intends to proceed with a private placement of secured convertible debentures for a minimum principal amount of $300,000 and a maximum principal amount of $585,000 on or before June 20, 2012. The debentures will be convertible at any time up to their maturity on November 10, 2015, in whole or in part, into units of Sigma, each unit consisting of one common share at $0.10 and one warrant for purchase of one common share of Sigma at $0.10 per share, the warrant to be valid for exercise no later than the maturity date of the debentures.
ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SSG), a manufacturing company specializing in the production of composite and metal components, has five operating subsidiaries and employs close to 475 people. The Company is active in the heavy-duty truck, coach, transit and bus, train and subway, machinery, agriculture, and wind energy markets. Sigma sells its products to original equipment manufacturers and distributors in the United States, Canada and Europe.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Sigma Industries Inc.
President and Chief Executive Officer
Martin Goulet, CFA