MONTREAL, QUEBEC--(Marketwired - Sept. 18, 2013) - SENSIO Technologies Inc. ("SENSIO" or "the Company") (TSX VENTURE:SIO) (OTCBB:SNIOF), announced today changes to the conditions of the private placement initially announced on June 3rd, 2013.
The amount of the private placement changes from $2,000,000 with an over-allotment option of $300,000, to $2,500,000 with an over-allotment option of 15%. Moreover, the placement in unsecured convertible debentures becomes a private placement of units. Each $0.10 unit contains a common share, and a warrant to purchase an additional common share for $0.18 exercisable in the two years following the closing of the placement.
"Considering the current market conditions and pursuant to our recent efforts with Global Maxfin Capital in regards to the proposed convertible debentures, it was determined that an equity raise was a better option at this stage," said Nicholas Routhier, President and CEO of SENSIO. "This will namely allow the Company to preserve its future financial resources for the development of its business which is our top priority".
For further information on SENSIO and its technologies, please visit www.sensio.tv
About SENSIO Technologies Inc. (SENSIO):
SENSIO Technologies Inc. (www.sensio.tv) has been leading the floor in bringing 3D video to the consumer since 1999. Its vision, expertise and state-of-the-art solutions, based on diversified stereoscopic image-processing technologies, have been trusted by some of the biggest names in the media and entertainment industries to power numerous industry firsts, initiate new business models and generate immediate revenue with a distinctive 3D offering.
SENSIO enables its clients to deliver the best possible 3D experience for the end-user through a broad portfolio of products, including its flagship, award-winning technology, SENSIO® Hi-Fi 3D. Through SENSIO solutions, consumers can access - with effortless interaction and complete peace of mind - 3D content of superior quality to common frame-compatible formats distributed over existing infrastructure (cable, satellite or over IP) and displayed using any existing digital equipment (cinema, home cinema, TV, game consoles or PC). SENSIO is listed on the Toronto TSX Venture Exchange.
SENSIO® is a registered trademark of SENSIO Technologies Inc.
Caution Concerning Forward-Looking Statements
Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions. A number of factors beyond the control of SENSIO could cause the aforementioned private placement to be delayed or cancelled, including general market conditions, failure to locate subscribers willing to participate or failure to obtain the necessary regulatory approvals. The results or events predicted in these forward-looking statements may differ materially from actual results or events. As a result, readers are cautioned not to place undue reliance on these forward looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management's discussion and analysis of SENSIO for the quarter ended February 28, 2013. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements.
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.