ENGINEERING.com Incorporated Announces Private Placement
February 03 2009 - 2:59PM
Marketwired
ENGINEERING.com Incorporated (the "Company") (TSX VENTURE: EGN)
wishes to announce a non-brokered private placement of
approximately 7,374,124 Common Shares at a subscription price of
$0.05 per share for gross proceeds of $368,706.20.
In accordance with the Rules of the TSX Venture Exchange, the
Company also announces that the offering will be entirely
subscribed for by Mr. Frank Baldesarra, Chairman of the Company.
Prior to the completion of the offering, Mr. Baldesarra controls
11,516,637 Common Shares which represents approximately 39% of the
total number of outstanding Common Shares. Upon completion of the
offering, Mr. Baldesarra will control 18,890,761 Common Shares
representing approximately 51.2% of the total number of outstanding
Common Shares.
The proceeds from the offering will be used for general working
capital purposes. The offering is subject to receipt of approval
from the TSX Venture Exchange.
About ENGINEERING.com Incorporated
ENGINEERING.com Incorporated (TSX VENTURE: EGN) is the
developer-owner of the www.ENGINEERING.com Web site and
Internet-based software and business. ENGINEERING.com offers hosted
and deployed engineering software and services to manufacturers,
design consultants and engineering academia around the world. The
ENGINEERING.com Incorporated head office is located in Mississauga,
Ontario, Canada and can be reached toll-free at 1-877-997-9917, by
facsimile at 905-273-6691 or through the Internet at
www.ENGINEERING.com.
Shares Outstanding: 29,496,499
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: ENGINEERING.com, Inc. John Hayes President & CFO
(905) 273-9991, ext. 280 or Toll Free: 1-877-997-9917 (905)
273-6691 (FAX) Email: jhayes@engineering.com Website:
www.engineering.com
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