NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES
Active Control Technology Inc. ("Active Control" or the "Company") (TSX VENTURE:ACT) announced today that it has filed a preliminary short form prospectus with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario in connection with an offering of common shares. The offering will be led by Paradigm Capital Inc. on a best-efforts agency basis. Aberdeen Gould Capital Markets Ltd. will participate as a selling group member. Final pricing and determination of the number of common shares to be sold under the offering will occur immediately prior to the filing of the (final) short form prospectus in respect of the offering.
The Company expects to use the net proceeds from the offering to fund working capital and for general corporate purposes.
Closing of the offering is subject to certain conditions, including but not limited to, receipt of all necessary securities regulatory approvals, including the approval of the TSX Venture Exchange.
This press release does not constitute an offer of the securities described herein in any jurisdiction. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States absent an exemption from registration.
About Active Control Technology
Active Control Technology is a mining services company specializing in advanced wireless productivity and safety systems. The company's MSHA-approved ActiveMine system provides two-way wireless voice communication, real-time tracking of personnel and assets, and high bandwidth data applications such as streaming video and operational data from mining machinery, over a robust wireless Wi-Fi network. Located in Burlington, Ontario, Canada, Active Control trades publicly on the TSX Venture Exchange under the symbol ACT. For more information, visit www.activecontrol.com.
Get more out of your mine.(TM)
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the Company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.
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.