Business
Allen-Vanguard Corporation closes exercise of over-allotment option
Allen-Vanguard Corporation closes exercise of over-allotment option.
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR\n\n\nFOR DISSEMINATION IN THE UNITED STATES/\n\n\nOTTAWA, April 5 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company"\nor "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada announced today that it has\nissued an additional 600,000 shares pursuant to the exercise of a portion of\nthe over-allotment option granted to the underwriters in connection with the\npreviously announced $50 million bought deal financing (the "Offering"). The\nfinal short form prospectus for the Offering was filed with Canadian\nsecurities regulatory authorities in the provinces of British Columbia,\nAlberta, Manitoba and Ontario on March 5, 2007. The additional shares were\npurchased at a price of $5.00 per share, for aggregate gross proceeds to the\nCompany of $3,000,000.\n\n\nThe Company intends to use the additional net proceeds in furtherance of\ncorporate development plans announced February 14th, 2007, including\nacquisitions, and for working capital and general corporate purposes.\n\n\nThis news release does not constitute an offer to sell or a solicitation\nof an offer to buy any of the securities in the United States. The securities\nhave not been and will not be registered under the United States Securities\nAct of 1933, as amended or any state securities laws and may not be offered or\nsold within the United States or to U.S. Persons unless an exemption from such\nregistration is available. This press release shall not constitute an offer to\nsell or the solicitation of an offer to buy nor shall there be any sale of the\nsecurities in any State in which such offer, solicitation or sale would be\nunlawful.\n\n\nAbout Allen-Vanguard\n\n\nAllen-Vanguard Corporation and its subsidiaries worldwide operate under\nthe brand "Allen-Vanguard". The Company develops and markets technologies,\ntools and training for defeating and minimizing the effects of hazardous\ndevices and materials, whether Chemical, Biological, Radiological, Nuclear or\nExplosive ("CBRNE"). The Company's equipment is in service with leading\nsecurity and military forces in more than 120 countries. Products include\nElectronic Counter-Measures ("ECM") equipment for jamming remote detonation of\nterrorist devices, specialty security equipment for Explosive Or...