Pure Technologies Ltd. ("Pure") ("PUR" - TSX Venture Exchange) is pleased to announce that it has negotiated, subject to regulatory approval and formal documentation, a brokered private placement with Canaccord Capital Corporation ("Canaccord") to raise up to $4,004,000, with an over-allotment option of up to an additional 25%, on a commercially reasonable efforts basis. Funds will be raised through the sale of shares to purchasers in Canada and in such other jurisdictions outside Canada which are agreed to by the Company and Canaccord. The placement will be for 3,080,000 shares at a price of $1.30 per share.
Proceeds from the placement will allow Pure Technologies to continue to accelerate market development for Pure's SoundPrint(R), P-Wave(R), SoundPrint(R) AFO and Smartball(TM) technologies as well as to meet current requirements for recently announced projects.
About Pure Technologies Ltd.
Pure Technologies is an international technology company which has developed patented and proprietary technologies for management and surveillance of critical infrastructure around the world. Applications for these technologies include water and wastewater pipelines, bridges, oil and gas pipelines, transportation infrastructure, nuclear power plants, high-rise buildings, parking and other critical structures. Pure provides its technologies from its headquarters in Calgary, Canada and subsidiaries in Columbia, Maryland, and Phoenix, Arizona.
Forward-Looking Statements
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words "believes", "expects", "anticipates", "estimates", "intends", "plans", or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and the Company's actual results could differ materially from those anticipated. Forward-looking statements are based on the opinions and estimates of Management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in, the Company's filings with Securities Regulators (www.sedar.com).
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
(R) Registered Trademarks, property of Pure Technologies Ltd.
(TM) Trademark, property of Pure Technologies Ltd.
"The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release"
%SEDAR: 00006060E
For further information: To find out more about Pure Technologies Ltd. (TSX-V: PUR), visit our website at www.puretechnologiesltd.com. Or contact James E. Paulson, Chairman at (403) 266-6794 or e-mail to info@puretechnologiesltd.com