|Page (1) of 1 - 04/23/12||email article||print page|
SENSIO Announces a Private Placement(April 23, 2012)
MONTREAL, QUEBEC -- (Marketwire) -- 04/23/12 -- SENSIO Technologies Inc. ("SENSIO") (TSX VENTURE:SIO), today announced that it has entered into an agreement with NCP Northland Capital Partners Inc., as lead agent, for a brokered private placement of common shares (the "Common Shares") for gross proceeds up to $5,000 000 on a best-efforts basis (the "Offering"). The offering price per Common Share will be equal to the highest of (i) $0.40 per Common Share and (ii) the market price (the day prior to pricing) less a 10% discount, subject to the TSX Venture Exchange applicable rules. The Offering is scheduled to close on or about May 31, 2012. The agent will receive a cash commission representing 6% of the gross proceeds of the sale of the Common Shares, compensation options equal to 6% of the total number of Common Shares sold pursuant to the Offering exercisable at the Offering price for a period of 24 months following closing and reimbursement of their reasonable fees and expenses.
"Recent developments have validated SENSIO's investments in protecting intellectual property and in pursuing content opportunities. As such, we believe the proposed new financing will accelerate our endeavours on these fronts and strengthen our competitive position," mentioned Nicholas Routhier, President and CEO of SENSIO.
The net proceeds will be used for sales and marketing, working capital and general corporate purposes. The closing of the Offering is subject to the TSX Venture Exchange and other regulatory approvals.
SENSIO Technologies Inc. (www.sensio.tv) has been leading the floor in bringing 3D video to the consumer since 1999. Its vision, expertise and state-of-the-art solutions, based on diversified stereoscopic image-processing technologies, have been trusted by some of the biggest names in the media and entertainment industries to power numerous industry firsts, initiate new business models and generate immediate revenue with a distinctive 3D offering.
SENSIO enables its clients to deliver the best possible 3D experience for the end-user through a broad portfolio of products, including its flagship, award-winning technology, SENSIO?? Hi-Fi 3D. Through SENSIO solutions, consumers can access - with effortless interaction and complete peace of mind - 3D content of superior quality to common frame-compatible formats distributed over existing infrastructure (cable, satellite or over IP) and displayed using any existing digital equipment (cinema, home cinema, TV, game consoles or PC). SENSIO's common shares are listed on the TSX Venture Exchange.
SENSIO?? is a registered trademark of SENSIO Technologies Inc.
This news release contains forward-looking information. These statements relate to future events and reflect management's current expectations and assumptions. Such forward-looking statements are based on information currently available to management of SENSIO. A number of factors beyond the control of SENSIO could cause the aforementioned private placement to be delayed or cancelled, including general market conditions, failure to locate subscribers willing to participate or failure to obtain the necessary regulatory approvals. These forward-looking statements are made as of the date hereof and SENSIO does not assume any obligation to update or revise them to reflect new events or circumstances.
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.
Investor Relations Contact
Strategic Advisor, Capital Markets
Chief Financial Officer
514 846-2022 ext. 17
Copyright @ Marketwire
Related Keywords: SENSIO Technologies Inc. , Marketwire, Inc., , Financial, Discount, Television, Game Technology, Business, Entertainment, Other,