Precision Enterprises Inc.
TSX VENTURE : PSC.H

April 21, 2011 12:44 ET

Precision Negotiates Non-Brokered Private Placement for $900,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Precision Enterprises Inc. (TSX VENTURE:PSC.H) (the "Company") announces that it has negotiated, subject to acceptance by the TSX Venture Exchange, a private placement for gross proceeds of up to $900,000. These funds will be raised by the Company issuing a total of up to 6,000,000 Units (the "Units") at a price of $0.15 per Unit, each Unit consisting of one common share and one-half share purchase warrant, each whole warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of two years from the date of issuance at a price of $0.30 per share. Proceeds raised from the private placement will be used towards investigation for potential projects for the Company, and for general working capital purposes.

The Company may pay finders fees in connection with the private placement in accordance with TSX Venture Exchange policies.

ON BEHALF OF THE BOARD

Joe DeVries, President and CEO

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

Contact Information

  • Precision Enterprises Inc.
    Joe DeVries
    President and CEO
    (604) 718-2800
    (604) 718-2808