VANCOUVER, Jan. 17, 2012 /CNW/ - Smartcool Systems Inc. (TSXV: SSC) announces that further to its news releases dated November
15, 2011 and December 6, 2011, the company will not proceed with the
closing of the final tranche of the private placement as initially
announced on November 15, 2011. The closing of the first tranche will
be the final and only closing of the private placement.
Smartcool is pleased to announce that it has arranged a new non-brokered
private placement of 2,678,571 common shares ("Shares") at a price of
$0.14 per Share for aggregate gross proceeds of approximately $375,000
The proceeds raised from the Offering will be used for general working
capital and purchase of inventory.
The Offering is subject to TSX Venture Exchange approval.
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
Smartcool Systems Inc. (TSX-V: SSC) provides energy efficiency solutions
for businesses around the world. The ESM™ and ECO3™ are Smartcool's unique retrofit technologies that reduce the energy
consumption of compressors in air conditioning, refrigeration and heat
pump systems, with no risk to existing equipment performance. www.smartcool.net
SOURCE SmartCool Systems Inc.
For further information:
CEO of Smartcool
T. 604 639 5625