NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 29, 2014) - ACT Aurora Control Technologies Corp. (the "Company") (TSX VENTURE:ACU) is pleased to announce that it has closed the second and final tranche of a private placement for 1,020,000 units ("Units") at a price of $0.37 per Unit for gross proceeds of $377,400. The Company distributed a total of 3,965,000 Units pursuant to both tranches of the private placement, for aggregate gross proceeds of $1,467,050.
Each Unit consists of one common share (a "Share") and one half of one share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one additional Share (a "Warrant Share") for a period of 18 months at a price of $0.50 per Warrant Share.
The Company will be paying a finder's fee consisting of a cash fee of 7% and finder's warrants to purchase Shares equal to 7% of the Units placed at a price of $0.37 for 18 months.
All securities will be subject to a 4 month hold period. All funds will be used for general working capital purposes.
About the Company:
ACT Aurora Control Technologies Corporation develops, manufactures and markets inline measurement systems for the photovoltaic industry. Headquartered in North Vancouver, Canada, and led by experienced leaders in process measurement, semiconductor manufacturing and industrial automation, the Company's inline, real-time measurement and control products provide photovoltaic cell manufacturers with the means to lower production costs and increase profitability. The Company's shares are listed on the TSX Venture Exchange and trade under the symbol "ACU".
For more information, the Company's website can be located at www.auroracontrol.com.
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.