Logistics International SAL (Offshore)

June 12, 2015 10:18 ET

Logistics Acquires Units of VendTek Systems

TORONTO, ONTARIO--(Marketwired - June 12, 2015) - Logistics International SAL (Offshore) ("Logistics") announces that pursuant to a subscription agreement entered into with VendTek Systems Inc. ("VendTek") on June 5, 2015, Logistics acquired by way of private placement, in reliance on the minimum amount investment exemption, 3,214,285 units (the "Units") of VendTek (the "Offering"). The Offering closed on June 5, 2015 (the "Closing Date"). Each Unit consisted of one common share in the capital of VendTek and one common share purchase warrant of VendTek (each a "Warrant") to purchase one common share in the capital of VendTek (each a "Warrant Share") at a price of CAD$0.25 per Warrant Share for a period of three years from the Closing Date.

As a result of the Offering, Logistics owns and exercises control over an aggregate of 5,133,868 common shares in the capital of VendTek, 3,214,285 Warrants and an unsecured convertible redeemable debenture in the principal amount of $735,757.03 (the "Debenture"), representing approximately 56% of the issued and outstanding Common Shares (assuming exercise of all of the Warrants and the conversion of the principal amount of the Debenture, at the applicable conversion price of such Debenture, owned by Logistics).

Logistics acquired the Units for investment purposes only. Depending on market and other conditions, Logistics may from time to time in the future increase or decrease its ownership, control or direction over, or exercise its current rights to acquire, the Common Shares or other securities of VendTek, through market transactions, private agreements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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