CriticalControl Solutions Corp.
TSX : CCZ

CriticalControl Solutions Corp.

June 30, 2014 16:18 ET

CriticalControl Announces Closing of $3 Million Bought Deal Private Placement

CALGARY, ALBERTA--(Marketwired - June 30, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CriticalControl Solutions Corp. (TSX:CCZ) (the "Corporation") is pleased to announce that it has closed its previously announced bought deal private placement (the "Private Placement"). Pursuant to the Private Placement, Industrial Alliance Securities Inc. purchased, for resale to the public, 6,000,000 units of the Corporation (the "Units"), at a price of $0.50 per Unit, for gross proceeds of $3,000,000. Each Unit is comprised of one common share in the capital of the Corporation and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional common share in the capital of the Corporation (a "Warrant Share"), at a price of $0.70 per Warrant Share, at any time prior to 12-months from the date hereof.

The net proceeds of the Private Placement will be used to fund the Corporation's growth initiatives and for general corporate purposes.

Forward looking information

This news release contains forward-looking information relating to the use of proceeds of the Private Placement. While the Corporation's current intent is to use the proceeds for the Corporation's growth initiatives and for general corporate purposes, the Corporation's plans may change based on the success of the Corporation's growth initiatives and other opportunities as they may arise.

Such forward-looking information is subject to important risks, uncertainties and assumptions. The results or events predicted in this forward-looking information may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on this forward-looking information.

About CriticalControl

In a world of escalating globalization, with an increasingly transient workforce, enterprises have difficulty maintaining their knowledge and are forced to focus on their key market advantages to remain competitive. CriticalControl provides these enterprises with secure and cost effective solutions for the completion of document and information intensive business processes through an integrated offering of software, outsourced services and optimized business processes.

Contact Information

  • Alykhan Mamdani
    President & CEO
    (403) 705-7500