From the Wires
CSM Systems Corp. Announces Private Placement
By: Marketwired .
Jan. 24, 2013 04:52 PM
EDMONTON, ALBERTA -- (Marketwire) -- 01/24/13 -- 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 $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 warrantholder.
CSM intends to use the proceeds from the Private Placement for general working capital purposes, and marketing of its innovative wayfinding and interactive customer service applications.
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.
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