NEWS & INFO
News » Rights Offering Results 12-07-2007 Fri Dec 7 5:36:05 UTC 2007
Calgary, Alberta – Real Time Measurements Inc. (TSX Venture Exchange: “RTY”) (“RTY”) is pleased to announce the results of its rights offering (the “Offering”), which entitled shareholders of record on September 17 2007 to purchase one unit of the Company at a price of $0.28 per unit, for every six rights held on record date. Each unit consists of one common share and onehalf share purchase warrant. Each whole warrant is exercisable into one common share at a price of $0.43 per share, expiring one year from date of issue.
A total of 1,912,596 Rights were deposited resulting in 318,766 units being issued. An additional 500,000 over subscription units were subscribed for. The offering therefore resulted in gross proceeds of $229,254 being raised along with the issuance of 818,766 common shares and 409,383 share purchase warrants priced at $0.43 each. The direct costs of the offering are estimated to be approximately $35,000. The net proceeds of approximately $194,000 will be used for general working capital purposes and current business activities including marketing and product development.
The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.