Business
Montec Holdings Inc. announces a maximum C$1 million private placement offering
Montec Holdings Inc. announces a maximum C$1 million private placement offering.
About this update from Defence Therapeutics Inc Class A
[{"type":"text","content":"\n\n\n\nMONTREAL, March 7 /CNW/ - Montec Holdings, (TSX-V: MTE) ("Montec" or "the\nCompany"), a holding company focused on acquiring and developing a diversified\nportfolio of high-growth technology companies, today announced that it has\nengaged Union Securities Ltd. to act on a best efforts agency basis in\nconnection with a private placement offering (the "Offering") of up to\n6,000,000 units of securities of the Company priced at $0.17 per unit, to\nraise gross proceeds between $500,000 and $1,020,000.\n\n\nEach unit consists of 1 common share at a price $0.17 and 1 common share\npurchase warrant. Each full warrant will entitle the holder to purchase one\ncommon share of the Company at a price of $0.25 per share for a period of\n24 months after the closing date of the Offering. The Company will use the net\nproceeds from the Offering to fund general working capital purposes and\nsubsequent acquisitions.\n\n\nThe Offering is expected to be completed on March 19th, 2007. No\nassurance can be given that the total number of units available under the\nOffering will be subscribed for, or that the Offering will be completed.\nCompletion of the private placement is subject to receipt of all required\nregulatory and other approvals, including acceptance by the TSX Venture\nExchange.\n\n\nThe Company also announced today that Mr. Jeffrey A. Mandel has resigned\nas a member of the Board of Directors. His resignation was acknowledged by\nMontec.\n\n\nThe Company expects to appoint a new Director shortly whose nomination\nwill be communicated in time.\n\n\nAbout Montec Holdings Inc.\n\n\nMontec Holdings Inc. is listed on the TSX Venture Exchange (TSX-V: MTE).\nMontec's objective is to create shareholder value by building a profitable\ntechnology entity with high-growth potential. Structured as a holding company,\nit will acquire, in each case, at least 51% shareholdings of a number of\nsynergetic companies and it will develop a diversified portfolio of\nhigh-growth technology companies. The Company recently completed the\nacquisition of Datex Billing Services Inc. For more information about Montec\nHoldings, please visit our website at www.montecholdings.com.\n\n\nThe TSX Venture Exchange Inc. has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n%SEDAR: ...