SOURCE: Norsat International Inc.

March 06, 2006 09:26 ET

Norsat Closes US$3 Million Financing

VANCOUVER, BC -- (MARKET WIRE) -- March 6, 2006 -- Norsat International Inc. (TSX: NII) (OTC BB: NSATF) announced today that on March 3, 2006, it closed the private placement previously described in its press release issued on February 17, 2006. The private placement involved the sale of 1,021,744 units at US$3.00 per unit. Each unit consists of 4 common shares and 3 common share purchase warrants. Each warrant has an exercise price of US$0.75 and a term of two years.

The net proceeds of the private placement of US $2,792,452 will be used for working capital in connection with the commercialization and production of the Norsat GLOBETrekker™, the latest addition to Norsat's line of portable satellite systems.

About Norsat International, Inc.

Norsat International Inc. designs, engineers and markets intelligent satellite solutions for high-speed data transmission. For more than 25 years, Norsat has built a strong reputation in the field of satellite technology by providing its customers with innovative products and has now sold over 2.5 million products in 87 countries. Norsat's latest innovations include the Norsat OmniLink TM and GLOBETrekker lines of portable satellite terminal products that provide rapidly deployable broadband satellite data and video connectivity in areas where traditional communications infrastructure is insufficient, damaged, or non-existent. Additional information is available at www.norsat.com. Additional investor information is available through email at communications_investorrelations@Norsat.com or by phone, 1-604-292-9000 or toll-free in Canada and the U.S., 1-888-667-7281.

Forward-Looking Statements

Statements in this news release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Norsat's public filings with securities regulatory authorities.

Contact Information

  • More Information Contact

    Norsat International, Inc.
    Communications & Investor Relations

    Toll-Free: 1-888-667-7281
    Tel: 604-292-9000
    Fax: 604-292-9011
    E-mail: Email Contact


    Norsat International Inc. Operations Location

    300-4401 Still Creek Drive
    Burnaby, British Columbia
    Canada V5C 6G9
    www.norsat.com