Eurocontrol Technics Inc.
TSX VENTURE : EUO

Eurocontrol Technics Inc.

October 28, 2005 16:50 ET

Eurocontrol Completes Private Placement Financing

TORONTO, ONTARIO--(CCNMatthews - Oct. 28, 2005) - Eurocontrol Technics Inc. (TSX VENTURE:EUO) has closed its previously announced private placement through the issuance of 6,000,000 Units at a price of $0.25 per Unit for gross proceeds of $1,500,000. Each Unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase a common share at $0.26 until October 27, 2007. Each of the common shares and warrants are subject to a hold period that will expire on February 29, 2006. The proceeds of the Offering will be used to develop the Company's assets, for the purchase of an interest in an expansion of the current business and for general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws an may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registrations is available.

About Eurocontrol Technics Inc.

Eurocontrol Technics Inc. is a Canadian based company trading on the TSX Venture Exchange under the symbol EUO.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Eurocontrol Technics Inc.
    Tony Wonnacott
    Director
    (416) 861-5879