QUEBEC CITY, July 4, 2012 /CNW Telbec/ - Sigma Industries Inc. ("Sigma"
or the "Company") (TSXV: SSG).
Sigma is pleased to announce its completion on June 24 of a private
placement of secured convertible debentures for a principal amount
of $555,000 $, the debentures being convertible at any time up to
maturity on November 10, 2015, in whole or in part, into units of
Sigma, each unit consisting of one common share at $0.10 and one
warrant for purchase of one common share of Sigma at $0.12 per share,
the warrant to be valid for exercise no later than the maturity date of
the debentures.
Of this principal amount, $400,000 was purchased by insiders: Mr. Denis
Bertrand, Mr. Bruno Doyon and Mr. Jean-François Doré, $55,000 each; Mr.
Pierre Massicotte, $125,000; and 9141-3898 Québec Inc. and Les Encres
Millénium Inc. / Millenium Ink Inc., $55,000 each.
Neither the debentures nor the shares underlying their conversion or the
exercise of the warrants may be sold, transferred, mortgaged or
otherwise negotiated before September 25, 2012.
The net proceeds of the placement will be used to increase the working
capital of the Company's U.S. subsidiary, RMC USA inc.
In its announcement on May 31, 2012 of conditional approval of this
private placement by the TSX Venture Exchange, Sigma erred in stating
that the maximum placement would be $585,000, rather than $555,000.
This private placement remains subject to final approval by the TSX
Venture Exchange.
ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SSG), a manufacturing company specializing in the production of
composite and metal components, has four operating subsidiaries and
employs close to 475 people. The Company is active in the heavy-duty
truck, coach, transit and bus, machinery, agriculture, and wind energy
markets. Sigma sells its products to original equipment manufacturers
and distributors in the United States, Canada and Europe.
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.