February 01, 2013. Guelph Ontario. ENPAR Technologies Inc. (TSX VENTURE: ENP) ("ENPAR" or the "Company") announces that it closed a Non-brokered Private Placement to an accredited investor February 01, 2013. The gross proceeds of $50,000 representing a total of 625,000 common shares were priced at $0.08 per share and are subject to a hold period of four months from the date of closing.
Each Unit is comprised of one Common Share in the capital stock of the Corporation and a full share Purchase Warrant ("Warrant"). Each share Purchase Warrant entitles the holder to purchase one (1) additional Common Share at an exercise price of $0.15 per share for a period of three (3) years from the date of closing.
Commissions paid to agents amounted to $4,000 (8% cash), and 50,000 Agent Share Purchase Warrants (8% warrants) were granted.
ENPAR Technologies Inc. announces that it has granted 200,000 incentive stock options to a consultant. The options are exercisable at a price of $0.10 for a period of two (2) years from the date of grant.
The private placement and grant of stock options are subject to regulatory approval by the TSX Venture Exchange.
The Company currently has an outstanding capital of 73,236,074 common shares with 9,550,000 common shares reserved for issuance on the exercise of outstanding stock options.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of water used in the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The Company's common shares trade on Tier ll of the TSX Venture Exchange under the symbol "ENP".
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Gene Shelp, President and CEO Tel: 519.836.6155
Fax: 519.836.5683
E-mail: [email protected]
Web Site: www.enpar-tech.com
70 Southgate Drive Unit 4,Guelph, ON, CANADA N1G 4P5
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause ENPAR Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof.