/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, Dec. 17, 2015 /CNW/ - SmartCool Systems Inc.
(TSXV: SSC) (OTCQB: SSCFF) (the "Company") is pleased to
announce that it has completed a non-brokered private placement
offering (the "Offering") of 2,670,000 units (the
"Units") at a price of $0.05
per Unit, for gross proceeds of $133,500. The Company intends to use the
proceeds for product development and general working capital.
Each Unit was 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.
All of the securities issued or issuable in connection with the
Offering are subject to a hold period expiring April 18, 2016. The warrants are not
transferable.
This press release is not an offer of securities for sale in
the United States. None of the
securities issued or issuable in connection with the Offering will
be registered under the United States Securities Act of 1933, as
amended (the "1933 Act"), and none of them may be offered or
sold in the United States absent
registration or an exemption from the registration requirements of
the 1933 Act. This press release will not constitute an offer to
sell or the solicitation of an offer to buy nor will there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
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 intended use of the
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.