QCC Technologies Inc.

QCC Technologies Inc.

September 15, 2005 19:35 ET

QCC Technologies Inc. Announces Proposed Debenture Private Placement for $15,000,000

CALGARY, ALBERTA--(CCNMatthews - Sept. 15, 2005) - QCC Technologies Inc. (TSX VENTURE:QCC) ("QCC") announces its intention to complete a private placement of secured, subordinated debentures ("Debentures") in the aggregate maximum principal amount of $15,000,000. Each $1,000,000 of principal amount of Debentures will be accompanied with 100,000 warrants ("Warrants"), resulting in a maximum of 1,500,000 Warrants being issued under the private placement. Each Warrant will entitle the holder to acquire one (1) common share of QCC at the exercise price $1.50 per share until the first year anniversary of the closing of the private placement. The Debentures and Warrants will be subject to a four (4) month hold period. QCC may pay commissions or finders fees to registered dealers or others entitled to receive commissions under applicable law on the sale of the Debentures, the payment of such being subject to regulatory approval. The proceeds of the private placement are intended to be used by QCC to fund acquisitions. The private placement is subject to the approval of the TSX Venture Exchange.

QCC is continuing its due diligence review of Calgary Septic Co. Ltd. ("Calgary Septic"). Further information regarding QCC's proposed acquisition of Calgary Septic and the resumption in the trading of QCC's common shares will be announced in due course.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • QCC Technologies Inc.
    Sid Dutchak
    President and CEO
    (403) 242-6041