Thursday, November 5, 2009
Active Control Prices Prospectus Offering
Burlington,
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NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES
Active Control Technology Inc. ("Active Control" or the "Company") (TSX-V:ACT) announced today that, further to its press release dated October 14, 2009, it intends to raise a minimum of $2,500,000 pursuant to its short form prospectus offering through the sale of Units priced at $0.06 per Unit. Each Unit will consist of one common share and one common share purchase warrant (“Warrant”) exercisable for one common share for 60 months at $0.10 per share.
The offering is being led by Paradigm Capital Inc. on a best-efforts agency basis. The Company expects to use the net proceeds from the offering to fund working capital and for general corporate purposes.
Closing of the offering is subject to certain conditions, including but not limited to, receipt of all necessary securities regulatory approvals, including the approval of the TSX Venture Exchange.
This press release does not constitute an offer of the securities described herein in any jurisdiction. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States absent an exemption from registration.