OML-TSX VENTURE
CERRITOS, CA, June 25 /CNW/ - Omni-Lite is pleased to announce that it has completed a non-brokered private placement with gross proceeds of US $500,000. Consideration for this investment was for the issuance of 200,000 Common Class A Shares of the Corporation. The subscription price was $2.50 US per share. These common shares will be subject to a four-month hold period, which expires on October 25, 2008. No commission was paid or compensation granted for this private placement.
"A portion of this investment in Omni-Lite was made by the President of one of Omni-Lite's strategic corporate partners, and thus is regarded as a significant vote of confidence in the current performance and future potential of the Company," stated David F. Grant, Chairman and CEO.
This private placement is pending regulatory approval.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by 50 companies including Boeing, Airbus, Alcoa, Chrysler, the U.S. Military, Nike, adidas and Reebok.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.
THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.