(via Thenewswire.ca)
A Company Specializing in Environmental Protection and Remediation Technologies
December 15, 2011, Guelph Ontario. ENPAR Technologies Inc. (TSX VENTURE: ENP) ("ENPAR" or the "Company") announces that it has closed the first tranche of a Non-brokered Private Placement to accredited investors. The gross proceeds are $553,700.00 representing 3,955,000 common shares.
The Company has reserved 10,714,286 Units at a price of $0.14 per unit. Each Unit is comprised of one Common Share in the capital stock of the Corporation and one full share Purchase Warrant ("Warrant"). Each warrant will entitle the holder to acquire one additional Common Share for a period of two (2) years from the date of closing at a price of $0.25 per common share.
The Company currently has an outstanding capital of 63,565,574 common shares with 8,641,664 common shares reserved for issuance on the exercise of outstanding stock options.
Agent compensation includes a commission which does not exceed 8% cash and 8% Agent Warrants.
The private placement is subject to regulatory approval by the TSX Venture Exchange.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of water used in the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The Company's common shares trade on Tier ll of the TSX Venture Exchange under the symbol "ENP".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Gene Shelp, President and CEO Tel: 519.836.6155
Fax: 519.836.5683
E-mail: info@enpar-tech.com
Web Site: www.enpar-tech.com
70 Southgate Drive Unit 4,Guelph, ON, CANADA N1G 4P5
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.
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