Real Time Measurements Inc.

Real Time Measurements Inc.

September 07, 2007 13:24 ET

Real Time Announces Rights Offering

CALGARY, ALBERTA--(Marketwire - Sept. 7, 2007) - Real Time Measurements Inc. (TSX VENTURE:RTY) ("RTM") Mr. Terry Matthews, President of RTM, is pleased to announce that it has received final approval from the Securities Regulatory Authorities to conduct a rights offering ("Rights Offering") in certain Canadian provinces and jurisdictions outside of Canada excluding the United States (the "Qualifying Jurisdictions"). Pursuant to the terms of the Rights Offering, shareholders of the Corporation residing in the Qualifying Jurisdictions as at September 18, 2007 (the "Record Date") will be granted rights (the "Rights") evidenced by transferable Rights certificates to purchase up to 4,229,068 Units of the Corporation ("Units"). A holder of common shares as at the Record Date will be entitled to one (1) Right per common share held and six (6) Rights will entitle the holder thereof to purchase one (1) Unit at $0.28 per Unit (the "Basic Subscription Privilege"). Each Unit consists of one common share ("Common Share") and one-half warrant (1/2) ("Warrant"). Each full Warrant shall entitle the holder to acquire one additional Common Share for $0.43 within 12 months of closing the offering. The Corporation has received conditional approval from TSX Venture Exchange Inc. (the "Exchange") for posting and listing the Rights and the Common Shares and Warrants issuable thereunder, subject to the Corporation satisfying certain conditions pursuant to the policies of the Exchange. The Rights expire at 4:00 p.m. (Calgary time) on December 17, 2007 (the "Expiry Date").

Pursuant to the requirements under applicable securities legislation, the Corporation has filed a Rights Offering Circular dated September 6, 2007 with the Securities Regulatory Authorities and has received final approval of the Rights Offering Circular. The Rights Offering Circular and related materials will be delivered to all shareholders of the Corporation as of the Record Date. The shareholders residing in the Qualifying Jurisdictions who have exercised all of their Rights will also be entitled to purchase any Units outstanding after the Expiry Date on a pro rata basis based on the number of Units purchased under the Basic Subscription Privilege, at a purchase price of $0.28 per Unit (the "Additional Subscription Privilege"). Rights certificates will not be issued or delivered to registered shareholders who are residents of jurisdictions other than the Qualifying Jurisdictions ("Non-Qualified Shareholders"). The Rights certificates of the Non-Qualified Shareholders will be issued to and held by Computershare Investor Services Inc (the "Subscription Agent"), which will hold such Rights as agent for the benefit of all Non-Qualified Shareholders. The Subscription Agent will use its best efforts to sell the Rights evidenced by such Rights certificates on behalf of all such respective holders prior to the Expiry Date. The net proceeds (less any applicable withholding tax) of such sale, if any, will be paid to such holders on a pro rata basis after the Expiry Date.

The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.

Contact Information

  • Real Time Measurements Inc.
    Terry Matthews
    President, CEO, Director
    (403) 720-3444
    Real Time Measurements Inc.
    4500 50th Avenue SE Calgary AB T2P 3R4