/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER,
Sept. 30, 2015 /CNW/ -
Smartcool Systems Inc. (TSXV: SSC) (the "Company") is pleased to
announce a non-brokered private placement offering (the "Offering")
of up to 20,000,000 units (the "Units") at a price of $0.05 per Unit, for maximum gross proceeds of
$1,000,000. The Company intends
to use the proceeds for product development and general working
capital.
Each Unit will be comprised of one common share in the capital
of the Company (a "Share") and one non-transferable share
purchase warrant (a "Warrant"). Each Warrant will
entitle the holder to purchase one additional Share in the capital
of the Company (a "Warrant Share") for a period of 12 months
from the closing date at an exercise price of 0.10.
The Offering is subject to receipt of approval from the TSX
Venture Exchange (the "TSX V"). All Shares and Warrant
Shares issued will be subject to resale restrictions imposed by
applicable law or regulation, including a four month hold period
that will begin on the Closing Date.
This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any of the Shares or Warrants in
the United States. These
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
About Smartcool
Smartcool Systems Inc. (TSXV: SSC) provides cutting edge
energy efficient and energy cost reduction solutions for businesses
around the world. The ECO3 and ESM are Smartcool's unique
retrofit technologies that reduce the energy consumption of
compressors in air conditioning, refrigeration and heat pump
systems by 15% to 20%, giving a return on investment in 12 to 36
months.
On behalf of Smartcool Systems Inc.
George Burnes, President
604.669.1388
Forward-looking statements:
Certain statements in this release are forward-looking
statements. Forward-looking statements consist of statements that
are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ
materially from those contained in the statements. No assurance can
be given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them. Forward looking statements in this
release include those concerning the size and timing of the
Offering and the proposed use of proceeds. These
forward-looking statements reflect management's current views and
are based on certain expectations, estimates and assumptions which
may prove to be incorrect. A number of risks and uncertainties
could cause our actual results to differ materially from those
expressed or implied by the forward-looking statements, as well as
other factors beyond the Company's control. These forward-looking
statements are made as of the date of this news release.
Neither the 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.
SOURCE SmartCool Systems Inc.