GUELPH, ON, March 29 /CNW/ - ENPAR Technologies Inc. ("ENPAR" or "the
Company") is pleased to announce that, further to its press release dated
February 21, 2006, it has completed a private placement of 3,705,000 aggregate
units with arm's length and non-arm's length parties. The Private Placement
Agreement closed on March 29, 2006. These securities are restricted from trade
until July 29, 2006. ENPAR has granted one (1) warrant per common share at a
price of $0.20 per warrant with an expiry date two (2) years from the closing
date of the Private Placement Agreement.
The proceeds of $555,750 realized from the placement will be allocated as
working capital to be expended in support of ongoing operations and business
development initiatives.
The Company has paid a 10% finder's fee to K. Kapital Group Inc. and to
White Knight Capital Corp.
The Private Placement is subject to regulatory approval by the TSX
Venture Exchange.
Upon completion of this transaction the Company will have
26,453,259 common shares issued and outstanding.
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.
