Private placement conditionally approved by TSX Venture
Exchange
SAINT-ÉPHREM-DE-BEAUCE, QC, Dec. 5, 2013 /CNW Telbec/ - Sigma Industries Inc.
("Sigma" or the "Company") (TSXV: SSG) announces that it is now in
a position to proceed with the private placement announced in its
news release of October 28,
subject to final approval by the TSX Venture Exchange.
This private placement will consist of:
(i) a loan of $800,000 for a
term of eight years, bearing interest at an annual rate of 10%,
payable quarterly, and convertible at any time during the five
years following its disbursement, in whole or in part, into common
shares of Sigma, at a price of $0.05
per share for an initial amount of $500,000 during the first year of the loan and
$0.10 per share for the balance
during the five years following disbursement; and (ii)
five-year debentures totalling an amount of $275,000, bearing interest at an annual rate of
10%, payable quarterly, and convertible at any time, in whole or in
part, into common shares of Sigma at a price of $0.10 per share. A portion of the debentures will
be subscribed to by insiders.
Contrary to what was announced on October 28, Sigma had not at that date
obtained the conditional approval of the Exchange. This approval
has now been obtained.
ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SSG), a manufacturing company
specializing in the production of composite components, has four
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.