November 12, 2009 09:29 ET

Active Control Receives Receipt for Final Short Form Prospectus

BURLINGTON, ONTARIO--(Marketwire - Nov. 12, 2009) -


Active Control Technology Inc. ("Active Control" or the "Company") (TSX VENTURE:ACT) announced today that it has received a receipt for a final short form prospectus, dated November 11, 2009, from the securities commissions of Ontario, British Columbia and Alberta. The Company filed its preliminary short form prospectus on October 14, 2009. The Company is offering a minimum of 42,000,000 units and a maximum of 67,000,000 units priced at $0.06 per unit for gross proceeds of $2,520,000 for the minimum offering and $4,020,000 for the maximum offering. Each unit shall consist of one common share and one share purchase warrant with each warrant entitling the holder to acquire a further common share at a price of $0.10 per share for a period of five years from closing.

Paradigm Capital Inc. (the "Agent") is acting as agent for the offering and will conditionally offer the units on a reasonable commercial efforts agency basis. The Agent will receive a commission equal to 6% of the gross proceeds. In addition, the Corporation has granted the Agent compensation options (the "Compensation Options") exercisable for a period of 18 months following the Closing Date to purchase up to that number of Units (the "Agent's Units") equal to 6% of the number of Units issued at a price of $0.06 per Agent's Unit for a period of eighteen (18) months from the Closing Date. Each Agent's Unit shall consist of one (1) Common Share (an "Agent's Unit Share") and one share purchase warrant (an "Agent's Warrant") with each Agent's Warrant entitling the holder thereof to acquire one common share (an "Agent's Warrant Share") at a price of $0.10 for a period of five (5) years from the Closing Date.

The Company expects to use the net proceeds from the offering to fund working capital and for general corporate purposes.

The closing of the offering is expected to occur on or about November 16, 2009, and is subject to all applicable regulatory and exchange approvals.

This press release does not constitute an offer of the securities described herein in any jurisdiction. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States absent an exemption from registration.

About Active Control Technology

Active Control Technology is a mining services company specializing in advanced wireless productivity and safety systems. The Company's MSHA-approved ActiveMine system provides two-way wireless voice communication, real-time tracking of personnel and assets, and high bandwidth data applications such as streaming video and operational data from mining machinery, over a robust wireless Wi-Fi network. Located in Burlington, Ontario, Canada, Active Control trades publicly on the TSX Venture Exchange under the symbol ACT. For more information, visit

Get more out of your mine. ™

Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the Company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

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.

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