December 3, 2012, Guelph, Ontario. ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR" or "the Company" or "the Corporation) announces that, subject to regulatory approval and formal documentation, the Company is offering a non-brokered, private placement. Funds will be raised through the sale of Units to Accredited Investors in the Provinces of Alberta, British Columbia, and Ontario.
The placement will be for 6,000,000 Units at a price of $0.10 per unit. Each Unit will be comprised of one Common Share in the capital stock of the Corporation and a TWO TIER full share Purchase Warrant ("Warrant"). Each TIER is comprised of one-half (1/2)
of a common share Purchase Warrant exercisable for a period of two (2) years from the date of closing. Two one-half (1/2) TIER 1 Purchase Warrants will entitle the holder to purchase one additional common share at an exercise price of $0.15 per share. Two one-half (1/2) TIER 2 Purchase Warrants will entitle the holder to purchase one additional common share at an exercise price of $0.20 per share.
The proceeds of this offering will be used for marketing and manufacturing initiatives, and for general working capital.
The private placement is subject to regulatory approval by the TSX Venture Exchange.
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".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Gene Shelp, President and CEO Tel: 519.836.6155
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.