TORONTO, Nov. 21 /CNW/ - ENPAR Technologies Inc. ("ENPAR" or "the
Company") is pleased to announce that, further to its press release dated
November 7, 2006, it has completed a private placement of 2,500,000 aggregate
units with arm's length parties. The Private Placement Agreement closed on
November 20, 2006. These securities are restricted from trade until March 20,
2007. ENPAR has granted one (1) warrant per common share at a price of $0.30
per warrant with an expiry date two (2) years from the closing date of the
Private Placement Agreement.
The proceeds of $500,000 realized from the placement will be allocated as
working capital for support of ongoing operations and business development
initiatives.
The Company has paid a 10% finder's fee or $38,055 to White Knight
Capital Corp.
The Private Placement has received approval by the TSX Venture Exchange.
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Upon completion of this transaction the Company will have
28,975,759 common shares issued and outstanding.
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ENPAR Technologies Inc. also wishes to announce that Mr. Bruce Hauser has
resigned as a Director of the Company to focus on personal business ventures.
The Board of Directors would like to thank Mr. Hauser for his several years of
services and wish him all the best with his future endeavors.
This news release contains forward-looking statements within the meaning
of the "safe harbour" provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are subject to risks and
uncertainties and other factors that may cause ENPAR Technologies Inc. results
to differ materially from expectations. These include risks relating to market
fluctuations, property performance and other risks. These forward-looking
statements speak only as of the date hereof.
Published Nov 21 2006
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