PROSYS TECH CORPORATION
TSX VENTURE : POZ

September 09, 2008 07:45 ET

Kerrigan Turner Announces his Participation in Prosys

MONTREAL, QUEBEC--(Marketwire - Sept. 9, 2008) - Kerrigan Turner announces that he acquired today in the scope of a private placement, directly and indirectly through Adatif International Ltd., the participation of 2,500,000 Common shares of Prosys Tech Corporation (hereinafter, "Prosys") (TSX VENTURE:POZ) at the price of $0.10 per shares and 2,500,000 warrants which entitles the holder thereof to purchase one Common Share at an exercise price of $0.12 for a period of twenty-four (24) months from. On a diluted and non-diluted basis, this holding represents respectively 7.02 % and 2.89 % of Prosys's Common shares issued and outstanding after the closing of the private placement.

As of this day, following this acquisition of 2,500,000 Common shares and 2,500,000 warrants, Kerrigan Turner holds directly and indirectly, 10,829,646 Common shares of Prosys on a non-diluted basis and 14,479,924 Common Shares on a diluted basis. On a diluted and non-diluted basis, Kerrigan Turner therefore directly and indirectly holds respectively 16.52 % and 12.52% of Prosys's Common shares issued and outstanding after the closing of the private placement.

Prosys's Common shares are listed on the TSX Venture Exchange under the symbol POZ.

The Prosys securities held directly and indirectly by Kerrigan Turner are held for investment purposes. Such investment will be periodically reviewed and Kerrigan Turner's holding may be increased or decreased in the future.

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

Contact Information

  • Prosys Tech Corporation
    Kerrigan Turner
    Director and Chairman
    514-255-3454
    Kerrytk@aol.com