Vancouver, British Columbia / ACCESSWIRE / September 29, 2014 / Vancouver, British Columbia -The Company is pleased to announce a private placement to issue a minimum of 1,000,000 and a maximum of 2,000,000 subscription receipts at a subscription price of $0.10 per subscription receipt. Each subscription receipt will be exchangeable, for no further consideration, on a one-for-one basis for one common share of the Company, upon the Company obtaining conditional listing approval of its common shares on the Canadian Securities Exchange. Finder's fees of 10% cash on the portion of subscription proceeds introduced by the finder and 10% warrants on the portion of subscription receipts introduced by the finder, with each warrant exercisable at $0.10 for a period of six months from the closing date, may be issuable to arms' length parties for the introduction of subscribers. Net proceeds of the financing are to be utilized to supplement general working capital and to implement the Company's business plan towards the development and marketing of its sulphur polymer technology in Western Canada. There is no assurance that the Company's application for the listing of its common share on the Canadian Securities Exchange will be successful. If the listing is not successful, all subscription proceeds will be returned to the subscribers in pro rata proportion to their individual subscriptions.
In addition, the Company reports that it has granted its management, directors and consultants an aggregate of 800,000 options exercisable at $0.10 until September 30, 2016.
For further information, please contact:
----------------------- |Jamie Lewin, CPA, | | |CEO | | |Phone: 604-739-3052| | -----------------------
No regulatory body has reviewed, and nor does any regulatory body accept responsibility for the adequacy or accuracy of the contents of this news release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
SOURCE: SPT Sulphur Polymer Technologies Inc.