Private placement approved by TSX Venture Exchange
SAINT-ÉPHREM-DE-BEAUCE, QC, June 12, 2014 /CNW Telbec/ - Sigma Industries
Inc. ("Sigma" or the "Company") (TSXV: SSG) announces that
following final approval from the TSX Venture Exchange, it is now
set to finalize a private placement initially announced in press
releases dated March 25, 2014 and
April 24, 2014.
This private placement consists of: i) a secured
loan of $1,450,000 with a term of
eight years, bearing interest at an annual rate of 10% payable
quarterly, and convertible, in whole or in part, at any time over
the five years following its disbursement, into common shares of
Sigma at $0.10 per share, and ii)
secured convertible debentures totalling $475,000 with a term of five years bearing
interest at an annual rate of 10% payable quarterly, and
convertible, in whole or in part, at any time into Sigma common
shares at a price of $0.10 per share.
A portion of these debentures has been subscribed by insiders.
A first portion of the loan amounting to
$400,000 and a first portion of the
debentures amounting to $200,000 were
received by Sigma on May 15, 2014. A
second portion of the loan amounting to $450,000 and a second portion of the debentures
amounting to $150,000 were received
by Sigma on June 11, 2014. A third
and final portion of the loan amounting to $600,000 and a third and final portion of the
debentures amounting to $125,000
should be received by Sigma by the end of June 2014.
ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SSG), a manufacturing company
specializing in the production of composite components, has two
operating subsidiaries and employs 400 people. The Company is
active in the heavy-duty truck, coach, transit, machinery and wind
energy markets. Sigma sells its products to original equipment
manufacturers and distributors in the
United States, Canada and
Europe.
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.
SOURCE SIGMA INDUSTRIES INC.