ForceLogix Technologies Inc.

December 10, 2009 13:56 ET

ForceLogix Technologies Inc. Announces Completion of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES

ForceLogix Technologies Inc. ("ForceLogix" or the "Company") is pleased to announce that it has closed a first tranche (the "Financing") of its previously announced private placement of units (the "Units") for gross proceeds of $263,900.

An aggregate of 2,639,000 Units were issued at a purchase price of $0.10 per Unit. Each Unit consists of one common share in the capital of the Company ("Common Share") and three-quarters (3/4) of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each whole Warrant entitles the holder thereof to acquire one additional Common Share from the Company (the "Warrant Shares") at a price of $0.20 per Warrant Share for a period of 24 months from the date of issuance. The Financing was non-brokered and the Units subscribed for are subject to a four month hold period expiring April 11, 2010 pursuant to Exchange policies and applicable securities laws.

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. The securities offered have not been, and will not be, registered under the securities laws of the United States of America or any state thereof, and may not be offered or sold in the United States of America absent registration or the availability of an exemption from such registration.

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.

Contact Information

  • ForceLogix Technologies Inc.
    Mr. Patrick Stakenas
    President and Chief Executive Officer
    (847) 281-9307