AgriTec Systems Inc. (TSX VENTURE:AGR) ("AgriTec" or the "Corporation") is
pleased to announce that it has entered into agreements with one arm's length
party, who has agreed to purchase an aggregate of 16,000 Series A Preferred
Shares at US $1.00 from the treasury of the Corporation, for gross proceeds to
AgriTec of US $16,000. Each Series A Preferred Share shall be entitled to
receive a cumulative dividend at the rate of 7% per annum, is redeemable at the
option of AgriTec and is convertible into 3 listed Common Shares of the
Corporation for a period of five years. The placement was completed on a
non-brokered basis, and no commissions or finder's fees are payable in
connection with the transaction. Proceeds of the placement will be used for
general working capital for the Corporation. The required documentation is being
filed with the TSX Venture Exchange, and completion of the private placement is
pending regulatory approval.
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