Semco Technologies Inc.

December 27, 2006 12:26 ET

Semco Technologies Inc. Closes Oversubscribed Private Placement

TORONTO, ONTARIO--(CCNMatthews - Dec. 27, 2006) - Semco Technologies Inc. (TSX VENTURE:STT)("Semco") announces it closed its previously announced non-brokered private placement offering (see December 8, 2006 press release). Semco increased the offering to 3,315,740 units at $0.27 per unit for gross proceeds of $895,250 from the previously announced 3,000,000 units. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at an exercise price of $0.40 per share for two years. The proceeds of the offering will be used for general working capital purposes. The private placement is subject to the final approval of the TSX Venture Exchange.

About Semco

Semco, through its subsidiaries, is involved in the design and manufacture of bulk handling systems in the food, petrochemical and mining industries for corporations, engineering firms and governments in Canada, the United States and internationally.

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

Contact Information

  • Semco Technologies Inc.
    Phil Jamieson
    (905) 670-9301