MONTREAL,
Sept. 30, 2013 /CNW Telbec/ - Sofame
Technologies Inc. (TSXV: SDW) (OTC.PK: SFMGF), a leading
manufacturer of environmentally efficient industrial water heaters
and cost effective heat recovery systems for traditional boilers,
has closed the final $ 70,000 tranche
of its $ 275,000 non-brokered private
placement with accredited investors through the issue of units at a
price of $0.02 per unit. Each
unit is comprised of one common share and a twelve-month purchase
warrant for half of one common share at $0.05 cents. 3,500,000 units have been sold
in tranches of $ 5,000 with shares
subject to a 4-month hold period. Proceeds of the funding are
being applied to specific outstanding trade debts, interest, taxes
and government liabilities as follows:
|
Governments |
|
$ |
64,769 |
|
Public Company Costs |
|
$ |
2,000 |
|
Trade Suppliers |
|
$ |
3,231 |
The private placement is subject to the TSX
Venture Exchange's Notices to Issuers dated August 17, 2012, and April
12, 2013, regarding Temporary Relief from Certain Pricing
Requirements until September 30,
2013. This Private Placement is necessary to support
existing operations, activities and assets. Under the rules
and regulations of the bulletins, the Company will provide TSXV
with information and documentation to support TSXV's final
acceptance of the Private Placement and granting of relief from
certain existing pricing requirements.
The Private Placement has been duly and validly
approved by the Company's Board of Directors. The
April 12, 2013, Extension and
Modification of Temporary Relief Measures from Certain Pricing
Requirements allows Related Parties to participate.
John Gocek, Sofame's President and
CEO acquired 250,000 units at the initial closing in May.
None of the proceeds will be used to fund the purchase or pursuit
of new businesses, operations or activities, and not more than an
aggregate $10,000 will serve to
compensate, or settle indebtedness with, or otherwise satisfy
obligations to, any person who is a Related Party (as such term is
defined in Policy 1.1 of the TSX Venture Exchange Corporate Finance
Manual).
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.
SOURCE SOFAME TECHNOLOGIES INC.