MONTREAL, April 11 /CNW/ - Montec Holdings, (TSX-V: MTE) ("Montec" or "the Company"), a holding company focused on acquiring and developing a diversified portfolio of high-growth technology companies, today announced it has revised the subscription agreement it had announced on March 7, 2007. The new terms of the private placement offering (the "Offering") are as follows:
(i) The unit subscription price is $0.15 per share. Each unit consists of 1 common share at a price of $0.15 and 1 common share purchase warrant. Each full warrant will entitle the holder to purchase one common share of the Company at a price of $0.20 per share for a period of 24 months after the closing date of the Offering;
(ii) The maximum size of the offering is $900,000 (6 million units x $0.15);
(iii) The minimum subscription is $750 (5,000 x $0.15);
(iv) The closing date is on or before June 4, 2007.
The Company will use the net proceeds from the Offering to fund subsequent acquisitions and general working capital purposes.
No assurance can be given that the total number of units available under the Offering will be subscribed for, or that the Offering will be completed. Completion of the private placement is subject to receipt of all required regulatory and other approvals, including acceptance by the TSX Venture Exchange.
About Montec Holdings Inc.
Montec Holdings Inc. is listed on the TSX Venture Exchange (TSX-V: MTE). Montec's objective is to create shareholder value by building a profitable technology entity with high-growth potential. Structured as a holding company, it will acquire, in each case, at least 51% shareholdings of a number of synergetic companies and it will develop a diversified portfolio of high-growth technology companies. The Company recently completed the acquisition of Datex Billing Services Inc. For more information about Montec Holdings, please visit our website at www.montecholdings.com
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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