AgriTec Systems Inc.
TSX VENTURE : AGR

AgriTec Systems Inc.

June 02, 2005 12:47 ET

AgriTec Systems Announces USD $25,000 Private Placement

WEBSTER, TEXAS--(CCNMatthews - June 2, 2005) - AgriTec Systems Inc. (TSX VENTURE:AGR) ("AgriTec" or the "Corporation") is pleased to announce that it has entered into an agreement with a related party who has agreed to purchase USD $25,000 of preferred shares from the treasury of the Corporation at a price of USD $1.00 per preferred share. Each preferred share shall be entitled to receive a cumulative dividend at the rate of 7% per annum, is redeemable at the option of AgriTec and is convertible into 2 listed common shares of the Corporation for a period of five (5) years. The placement was completed on a non-brokered basis, and no commissions or finder's fees are payable in connection with the transaction. Proceeds of the placement will be used for working capital for the Corporation. The required documentation is being filed with the TSX Venture Exchange, and completion of the private placement is pending regulatory approval.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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