Automodular Corporation

Automodular Corporation

June 27, 2005 09:59 ET

Automodular Rights Offering Oversubscribed

TORONTO, ONTARIO--(CCNMatthews - June 27, 2005) - Automodular Corporation (TSX:AM) announces that its 3,000,000 share issue by way of a rights offering was oversubscribed. Accordingly, Automodular will issue 3,000,000 at $0.75 per share for gross proceeds of $2,250,000. The net proceeds will be used to repay bank debt and fund capital expansion related to recent contract awards.

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