AirTest Announces Financing
(firmenpresse) - DELTA, BRITISH COLUMBIA -- (Marketwired) -- 04/21/15 -- AirTest Technologies Inc. ("ATI") (TSX VENTURE: AAT) Management is pleased to announce the completion of Convertible Loan financings from two lenders, one of whom is an insider, for proceeds of $250,000. The terms of the Loans are identical, are for 24 month (the "Term") periods with interest accruing at 10% to be calculated annually but paid monthly in arrears at the end of each month. The principal can be converted to common shares in ATI at $0.10 per share at any time during the Term of the Loans. Should the 30 day weighted average equal or exceed $0.30 per share at any time during the Term, the Loans will automatically convert to common shares in ATI. At the end of the Term the lenders will have the option of converting the Loans to common shares at the lower of $0.10 per share or current market price based on the last 10 days weighted average, or calling for repayment of the Loans.
According to George Graham, President of ATI, "this financing provides us with sufficient working capital to take advantage of the many market opportunities we have identified for our new line of WiFi sensor products."
The Proceeds of the Convertible Loans will be used for general working capital purposes. This financing is subject to the approval of the TSX Venture Exchange.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.
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.
Contacts:
ATI AirTest Technologies Inc.
Mr. George Graham
President
(604) 517 3888
(604) 517 3900 (FAX)
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Datum: 21.04.2015 - 15:26 Uhr
Sprache: Deutsch
News-ID 387382
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Town:
DELTA, BRITISH COLUMBIA
Kategorie:
Equipment
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