RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

August 11, 2009 17:20 ET

RenoWorks Announces Proposed Private Placement

This announcement is not an offer of the securities for sale in the United States. Securities may not be offered or sold in the United States absent registration. No public offering of securities has been or will be made in the United States and, accordingly, the securities will not be registered under the U.S. Securities Act of 1933.

CALGARY, ALBERTA--(Marketwire - Aug. 11, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

RenoWorks Software Inc. (TSX VENTURE:RW) ("Renoworks"), a leading provider of digital exterior and interior home imaging software solutions for new home construction and existing home renovations, is pleased to announce that it intends to pursue a non-brokered private placement of 5,000,000 common shares at a price of $0.05 per common share, for gross proceeds of $250,000. Following the proposed private placement, Renoworks will have approximately 27,620,444 common shares issued and outstanding. Net proceeds from the proposed private placement will be used to fund development expenditures and for general corporate purposes.

Completion of the proposed private placement is subject to a number of conditions such as the receipt of all required regulatory approvals including, but not limited to, the approval of the TSX Venture Exchange. Assuming satisfaction of those conditions, it is anticipated that the proposed private placement will close on or before August 21, 2009. The common shares to be issued pursuant to the proposed private placement will be subject to a statutory restriction on trading for a period of four months and one day from the date of closing.

About Renoworks

RenoWorks Software Inc. develops and markets cutting edge visualization software and integrated solutions for the remodeling and new home construction industries. RenoWorks' software and web solutions use digital imaging to showcase interior and exterior building products on a picture of a customer's room, home, or blueprint. The software allows users to envision various 'before and after' design options using a database of actual manufacturer's products. For more information, visit www.renoworks.com, or call 403-296-3880.

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

Contact Information

  • RenoWorks Software Inc.
    Doug Vickerson
    CEO and CFO
    (403) 296-3880 x 227
    Website: www.renoworks.com