Semco Technologies Inc.

January 10, 2007 11:54 ET

Semco Technologies Inc. Announces Final Approval of Oversubscribed Private Placement

TORONTO, ONTARIO--(CCNMatthews - Jan. 10, 2007) - Semco Technologies Inc. (TSX VENTURE:STT) ("Semco") announces that it has received final TSX Venture Exchange approval for its previously announced non-brokered private placement offering (see December 8, 2006 and December 27, 2006 press releases). Semco increased the offering to 3,315,740 units at $0.27 per unit for gross proceeds of $895,250 up from the previously announced 3,000,000 units. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at an exercise price of $0.40 per share until December 21, 2008. The proceeds of the offering will be used for general working capital purposes. The common shares and warrants comprising the units and the common shares issuable on the exercise of the warrants will be subject to resale restrictions until April 22, 2007.

About Semco

Semco, through its subsidiaries, is involved in the design and manufacture of bulk handling systems in the food, petrochemical and mining industries for corporations, engineering firms and governments in Canada, the United States and internationally.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Semco Technologies Inc.
    Phil Jamieson
    (905) 670-9301