VANCOUVER, BC--(Marketwired - August 29, 2016) - Unisync Corp. (TSX VENTURE: UNI) ("Unisync") has closed a non-brokered private placement of 500,000 Class B common shares at a price of $2.00 per share for gross proceeds of $1,000,000. The proceeds are being used for general working capital purposes. All shares issued under the private placement are subject to a restricted period that will expire four months after the issuance date. A $25,000 finders fee is payable in cash to an arm's length finder. Insiders did not participate in the private placement. Unisync has received final acceptance of the private placement from the TSX Venture Exchange.
Unisync operates through two business segments: Unisync Group Limited ("UGL") of Mississauga, Ontario and Peerless Garments LP ("Peerless") of Winnipeg, Manitoba. UGL is a leading customer-focused provider of corporate apparel, serving a list of leading Canadian iconic brands in a variety of industries. Peerless specializes in the production and distribution of highly technical protective garments, military operational clothing and accessories for a broad spectrum of Federal, Provincial and Municipal government departments and agencies such as the Armed Forces and the RCMP.
The combined operations of Unisync represent a vertically integrated and proudly Canadian enterprise with exceptional capabilities in garment design, domestic manufacturing and off-shore outsourcing, combined with state-of-the-art web based B2B ordering, distribution and program management systems. For more information on our capabilities, products and services please visit our website at www.unisyncgroup.com.
On Behalf of the Board of Directors
Douglas F Good
Forward Looking Statements
This news release may contain forward-looking statements that involve known and unknown risk and uncertainties that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Any forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
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