Open EC Technologies, Inc.

Open EC Technologies, Inc.

September 22, 2005 21:02 ET

Open EC Technologies, Inc.: $230,000 Non-Brokered Private Placement Closed & Completed

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 22, 2005) - Open EC Technologies, Inc. (the "Company") (TSX VENTURE:OCE). Further to the Company's news release of August 12, 2005, Open EC is pleased to announce, that the C$230,000 non-brokered private placement financing is accepted for filing by the TSX Venture Exchange and has closed. Two point three (2.3) million units consisting of one common share of the Company and 1/2 of one common share purchase warrant have been issued. Each whole Warrant entitles the holder to purchase an additional common share of the Company at a price of $0.15 for a period of 12 months ending September 16, 2006. Shares issued and any warrant shares that may be issued pursuant to the offering, are subject to a hold period which expires January 16, 2006.

Holding companies controlled by Martyn A. Armstrong, President, CEO and a director of the Company and by John A. Versfelt, CFO and a director each acquired 500,000 units of the placement.

On Behalf of the Board of Directors

"John A. Versfelt"

John A. Versfelt
Director & CFO

Further information about the Company can be found on SEDAR ( or by contacting either, Mr. John A. Versfelt, CFO and Director of the Company or Mr. Martyn A. Armstrong, President & CEO of the Company.

The Exchange has not in any way passed upon the merits of this news release. This news release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Contact Information

  • Open EC Technologies, Inc.
    Mr. John A. Versfelt
    CFO and Director
    (604) 681-3674 & (604) 983-8083
    (604) 681-0870 & (604) 983-8056 (FAX)
    Open EC Technologies, Inc.
    Mr. Martyn A. Armstrong
    President & CEO
    (604) 681-3674 & (604) 983-8083
    (604) 681-0870 & (604) 983-8056 (FAX)