CSM Systems Corp. Announces Private Placement
31 Janvier 2014 - 3:00PM
Marketwired
CSM Systems Corp. Announces Private Placement
EDMONTON, ALBERTA--(Marketwired - Jan 31, 2014) - CSM Systems
Corp. (TSX-VENTURE: CKX) ("CSM") announces that, subject to
regulatory approval, it intends to complete an offering of up to
5,000,000 units ("Units") at a price of $0.05 per Unit for gross
proceeds of up to $250,000 by way of a private placement (the
"Private Placement"). Each Unit is comprised of one (1) common
share ("Common Share") and one-half (1/2) Common Share purchase
warrant (each whole warrant, a "Warrant"). Each Warrant entitles
the holder to purchase one (1) additional Common Share at a price
of $0.10 per Common Share for a period of twenty-four (24) months
following the date of closing, provided that if after four months
and one day following the closing date the closing price of the
common shares is equal to or exceeds $0.15 for twenty (20)
consecutive days, then the warrants shall automatically accelerate
to expire on the date which is thirty (30) days following the date
a press release is issued by CSM announcing the reduced warrant
term or the date that written notice has been given to the
warrant-holder.
CSM intends to use the proceeds from the Private Placement for
general working capital.
It should be noted that the November 20, 2013 previously
disclosed private placement of the same nature did not proceed.
Neither the 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.
CSM Systems Corp.John PuttersPresident & CEO(780)
425-9460jputters@visionstate.com
(TSXV:CKX)
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