SENSIO Anounces the Closing of Phase One of Its Private Placement
MONTREAL, QUEBEC – SENSIO Technologies inc. (“SENSIO”) (TSX VENTURE: SIO), inventor of the SENSIO®3D technology, announces the successful closing of phase one (the “Closing of phase one”) of the private placement announced on January 26, 2009 (the maximum of which was increased to $2,500,000 on January 28, 2009). The private placement consists in issuing a minimum of 3,333,333 units and a maximum of 8,333,333 units at a price of $0.30 per unit for minimum proceeds of a $1,000,000 and a maximum of $2,500,000 (the “Offering”).
For the Closing of phase one, SENSIO issued 5,000,334 units at a price of $0.30 per unit aggregating $1,500,100. Each unit is comprised of one SENSIO Common Share and one-half Warrant. Each whole Warrant can be exercised by its holder at a price of $0.35 within the first year and at a price of $0.40 within the second year following the Closing of phase one. The securities underlying the units are subject to a four-month and one day hold period expiring June 7, 2009.
As a part of the Offering, SENSIO has paid a finder’s fee of $13,500 for finder’s fee. SENSIO is planning to close a second phase of the Offering by March 9, 2009 at the latest.