FORT LAUDERDALE, Fla., Sept. 22, 2003 (PRIMEZONE) -- Tekron, Inc. (OTCBB:TKRN) today announced that it will offer a US $15 million private placement offering of 10,000,000 units at a price of $1.50 per unit.
Each unit consists of one common share and one warrant. The warrants expire on September 22, 2004 and entitle the holder to purchase one additional common share at a price of $3.00 per share. No finders fees will be associated with this placement. The shares and warrants were placed pursuant to regulations under the SEC Act of 1933, as amended.
Proceeds from private placement will be used for general working capital and to fund Tekron's ongoing acquisition activities.
"The investment community is continuing to show strong confidence in our company's growth prospects," said Luigi Brun, President of Tekron, Inc., "following our successful acquisition targets that are complementary to Tekron business and that would add significant value for the company and its shareholders."
About Tekron:
Tekron, Inc., http://www.tekron-inc.com, and its subsidiaries are engaged in the commitment to the preservation of the environment through the use of ecologically safe and efficient technology.
To receive company news release via e-mail, mail to: info@tekron-inc.com.
The information contained in this press release may contain "forward-looking statements" within the meaning of the U.S. Federal Securities Laws. Such statements are based on the current expectations of the management of Tekron, Inc. only, and actual results may differ materially.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy of this news release. U.S. SEC exemption number is 12g3-2 (b) 82-5137. Special Note: Management believes certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ from those expressed or implied. Such differences may result from actions taken by the company prior to its current fiscal year end, as well as from developments beyond the company's control, including changes in global economic conditions that may, among other things, affect the performance of the company's anticipated acquisitions or future business. In addition, changes in domestic competitive and economic conditions may also affect performance of all significant company businesses.