NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES
Eurocontrol Technics Inc. ("the Company") (TSX VENTURE:EUO), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication, verification and energy security technologies, is pleased to announce that it intends to complete a non-brokered private placement financing at a price of $0.17 per unit for gross proceeds of up to $1,000,000. Each unit will consist of one common share of the Company and one-half of one common share purchase warrant of the Company (each whole warrant a "Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of the Company at an exercise price of $0.25 for a period of 12 months following the closing of the private placement.
Closing of the private placement if subject to receipt of all necessary regulatory approvals, including TSX Venture approval. Securities issued on closing of the financing will be subject to a statutory holder period of four months and one day.
The Company may pay finder's fees in connection with the financing. Eurocontrol intends to use the net proceeds from the financing for general corporate purposes.
About Eurocontrol Technics Inc.
Eurocontrol Technics Inc. through its wholly owned subsidiary Global Fluids International S.A. ("GFI") is one of the world's pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through its proprietary Petromark(TM) integral system, GFI has developed a 4-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's 5-year R&D efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol Technics Inc. allows management to pursue numerous anticipated oil marking opportunities.