Home » Picture Gallery, Software » SENSIO Announces First Tranche Closing of Previously Announced Private Placement for $2.04 million

SENSIO Announces First Tranche Closing of Previously Announced Private Placement for $2.04 million

MONTREAL, QUEBEC — (Marketwired) — 10/04/13 — SENSIO Technologies Inc. (“SENSIO” or the “Corporation”) (TSX VENTURE: SIO) is pleased to announce a first tranche closing of the previously announced brokered private placement for 20,400,000 units of the Corporation (the “Units”) at a price of $0.10 per Unit for aggregate gross proceeds of $2,040,000 (the “Offering”). The Offering has been made on a commercially reasonable efforts basis by Global Maxfin Capital Inc. (the “Agent”).

Each Unit is comprised of one common share of the Corporation and one common share purchase warrant. Each warrant entitles its holder to acquire one additional common share of the Corporation at a price of $0.18 per common share until 5:00 p.m. (Montreal Time) on October 4, 2015.

SENSIO intends to use the net proceeds of the Offering for business development, general working capital purposes, and for further business development, namely for the expansion of 3DGO! to more devices, porting to new platforms and further content acquisition.

The President and Chief Executive Officer, the Chief Financial Officer and the Chief Business Development Officer of the Corporation have subscribed for a total of 2,600,000 Units under the Offering of which 2,450,000 were subscribed by the President and CEO. The President and CEO of the Corporation had previously sold a total of 2,450,000 common shares of the Corporation from his personal shareholdings to facilitate the execution of the Offering. In consideration for the purchase of such shares, he delivered 2,450,000 warrants to the purchasers from the Units he acquired. The CEO-s net shareholding position after both transactions remains unchanged. The CEO has also subscribed to an additional 100,000 units which will be part of the next tranche closing.

Caisse de depot et placement du Quebec (the “Caisse”) subscribed for 6,000,000 Units. The subscription provides the Caisse the right to include in the list of candidates for the director position proposed by the Corporation, in its management proxy circular, a candidate that is independent under applicable securities laws. The subscription also provides certain anti-dilution rights to allow the Caisse to maintain its pro-rata ownership in connection with future treasury offerings by the Corporation. These rights will be granted as long as the Caisse holds a minimum of 10% of the Corporation-s outstanding common shares.

All securities issued under the Offering have been issued pursuant to exemptions from the prospectus requirements of applicable securities laws and are subject to a four month plus one day statutory hold period ending on February 5, 2014. For services rendered in connection with the Offering, the Corporation has paid the Agent a cash commission of $112,950 and has granted to the Agent non-transferable broker warrants entitling the Agent to acquire 1,005,000 common shares of the Corporation at a price of $0.10 per share until 5:00p.m. (Montreal Time) on October 4, 2015.

“We are grateful for the continued trust and support we enjoy from our existing and new investors”, said Nicholas Routhier, President and CEO of SENSIO. “Management-s participation in this financing demonstrates the level of confidence we have in our business plan and demonstrates our commitment to the Company above and beyond our everyday efforts. Based upon the interest demonstrated by the market, it is our intention to finalize the financing in the coming weeks and to go up to the maximum offering. “

For further information on SENSIO and its technologies, please visit

About SENSIO Technologies Inc. (SENSIO):

SENSIO Technologies Inc. () has been leading the floor in bringing 3D video to the consumer since 1999. Its vision, expertise and state-of-the-art solutions, based on diversified stereoscopic image-processing technologies, have been trusted by some of the biggest names in the media and entertainment industries to power numerous industry firsts, initiate new business models and generate immediate revenue with a distinctive 3D offering.

SENSIO enables its clients to deliver the best possible 3D experience for the end-user through a broad portfolio of products, including its flagship, award-winning technology, SENSIO┬« Hi-Fi 3D. Through SENSIO solutions, consumers can access – with effortless interaction and complete peace of mind – 3D content of superior quality to common frame-compatible formats distributed over existing infrastructure (cable, satellite or over IP) and displayed using any existing digital equipment (cinema, home cinema, TV, game consoles or PC). SENSIO-s common shares are listed on the TSX Venture Exchange.

SENSIO® is a registered trademark of SENSIO Technologies Inc.

Caution Concerning Forward-Looking Statements

Certain statements made in this press release that are not historical facts, such as the use of proceeds from the private placement and future closings, are forward-looking statements and are subject to important risks, uncertainties and assumptions. A number of factors beyond the control of SENSIO could cause the aforementioned future closings to be delayed or cancelled, including general market conditions, failure to locate subscribers willing to participate or failure to obtain the necessary regulatory approvals. The results or events predicted in these forward-looking statements may differ materially from actual results or events. As a result, readers are cautioned not to place undue reliance on these forward looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management-s discussion and analysis of SENSIO for the year ended May 31, 2013. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any 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.





Eric Choquette
Chief Financial Officer
514 846-2022 ext. 17

Posted by on 4. October 2013. Filed under Picture Gallery, Software. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply


© 2019 So-Co-IT. All Rights Reserved. Log in - Copyright by LayerMedia

Blogverzeichnis - Blog Verzeichnis bloggerei.de Blog Top Liste - by TopBlogs.de Bloggeramt.de