Business
Avante Security Corp. closes private placement
TORONTO, Nov. 4 /CNW/ - Avante Security Corp. (TSXV: ASY) (the "Corporation") is pleased to annou...
About this update from Avante Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 4 /CNW/ - Avante Security Corp. (TSXV: ASY) (the\n"Corporation") is pleased to announce that it has, subject to final approval\nfrom the TSX Venture Exchange, completed the sale of 2,828,843 units ("Units")\nof the Corporation for gross proceeds of approximately $1,074,960 by way of a\nnon-brokered private placement. The Units were sold at a price of $0.38 each.\nEach Unit consists of one common share ("Common Share") and one-half of one\ncommon purchase warrant ("Warrant") of the Corporation. Each whole Warrant\nwill entitle the holder to purchase one Common Share for $0.60 until expiry of\nthe Warrants on November 4, 2009. The securities issued in connection with the\nprivate placement will be subject to a four-month hold period under applicable\nsecurities laws. The Corporation has, after giving effect to the private\nplacement, 42,648,843 issued and outstanding common shares.\n\n\nThe proceeds are to be used for, among other things, product development,\nmarketing and sales of the Corporation's state-of-the-art 724Smart WIP(TM)\ntechnology and working capital.\n\n\nAbout Avante Security Corp.\n\n\nOver the past twelve years, Avante has built its reputation as Toronto's\npreeminent security company by providing premium security services through the\nuse of advanced technology and a focus on client service. Trademarked 724Smart\nWIP(TM), the Company's proprietary technologies provide "Anytime; Anyplace"\ntwo-way wireless communication to any electronic device. Originally developed\nfor wireless security applications, the technology's open architecture\nprovides a platform for expanded functionality, and the Company is now poised\nto exploit the growing opportunities in energy management and metering\napplications, home automation, remote video monitoring, among others. Other\ninformation relation to Avante Security Corp. is available on SEDAR at\nwww.sedar.com and on the Corporation's website at www.avantesecurity.com.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\n\n\nForward-Looking Statements\n\n\nThis press release contains forward looking statements. Forward looking\nstatements are not based on historical facts, but rather on current\nexpectations, Company assumptions and projections about ...