SIC Sokoman Minerals Corporation

QUÉBEC CITY, Nov. 17 /CNW/ -- Sigma continues its corporate reorganization and honours its proposal in bankruptcy QUÉBEC CITY, Nov. 17 /CNW Telbec/ - Sigma Industries Inc. ("Sigma" or the "Company") (TSX Venture Exchange: SIC), has today released information about its reorganization plan.  As part of that plan, the Company proceeded on November 10 to: i) consolidate its share capital issued and outstanding, at a ratio of 4 to 1, thus reducing the number of its shares in circulation to approximately 10,724,770 common shares; ii) cancel all options and all warrants outstanding; iii) issue secured convertible debentures for a capital of $500,000; and iv) issue 1,000,000 common shares at a price of $0.40 per share (post-consolidation) in partial settlement ($400,000) of a debt to a secured creditor, conditional on final approval from the TSX Venture Exchange. Sigma's stock symbol "SIC" will be very shortly be replaced by "SSG". Sigma believes it will be able to complete its private placement of secured convertible debentures of a maximum authorized amount of one million dollars ($1,000,000) by the end of January 2011. These debentures can be converted into units of the Company at any time until November 10, 2015, in whole or in part.  Each unit consists of one common share at $0.10 and one warrant allowing the purchase of one common share of Sigma at $0.10 per share.  The warrants may not be exercised after the debentures expire. Furthermore, Sigma and Transcam Composites inc. have paid the trustee in bankruptcy the funds necessary to allow payment of the dividends provided in their respective proposals in bankruptcy and accordingly have fully satisfied the obligations imposed by their terms, as indicated by the certificates of performance issued to them by Ernst & Young inc., trustee in bankruptcy. René Matériaux Composites ltée ("René") has also paid the trustee in bankruptcy the funds necessary to allow payment of the first of two dividends provided in its proposal in bankruptcy and accordingly has been issued by Ernst & Young inc., trustee in bankruptcy, the relevant certificate of partial performance. It is expected that René will have fully met its obligations under the terms of its proposal in bankruptcy by February 9, 2011 at the latest, with the payment of $175,000 to the trustee in bankruptcy. ABOUT SIGMA INDUSTRIES Sigma Industries Inc. (TSX-V: SIC), a leading composite and metal products manufacturer, has five operating subsidiaries and employs 350 people. The Company is active in the growing heavy-duty truck, coach, transit and bus, train and subway, machinery, agriculture, light forestry, and wind energy market segments. Sigma sells its products to original equipment manufacturers and distributors in the United States, Canada and Europe. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. pbSigma Industries Inc./b br/ Denis Bertrand  br/ President and Chief Executive Officer br/ Telephone: (418) 484-5282 br/ Email: a href="mailto:denis.bertrand@sigmaindustries.ca"denis.bertrand@sigmaindustries.ca/a/p

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