NEWS & INFO
News » RTM Closes Private Placement Wed Apr 15 2:59:19 UTC 2009
Calgary, Alberta – Real Time Measurements Inc. (TSX Venture Exchange: “RTY”) (“RTY”) is pleased to announce that RTY has closed a non-brokered private placement consisting of 3,136,000 units at a price of $0.03 per unit for total proceeds of $94,080.00 subject to TSX Venture Exchange acceptance. Each unit includes one Common Share in the Corporation and 1/2 of one Purchase Warrant which entitles the holder to purchase an additional Common Share of the Corporation at a price of $0.06 within 12 months of issuance. The Common Shares and Warrants will be subject to a 4 month hold period. In connection with the Private Placement, RTY paid $7,526.40 to arm’s length finders and issued 250,880 finders warrants, which are exercisable at $0.06 per common share and expire 12 months after issuance.
The proceeds from the private placement will be used for general working capital to support continuing operations and potential growth opportunities, including the purchase of raw materials for product manufacturing, capital equipment, marketing expenses and international expansion.
RTY also advises that it will not be proceeding with the Investor Relations Agreement with Mr. Michael Rahtjen, as previously announced via Stockwatch on January 13, 2009.
Real Time Measurements is a Canadian oil and gas technology development company that designs, builds and sells equipment and provides services to oil and gas companies in various parts of the world. The company uses innovative applications of recent technological developments to solve selected oil and gas upstream measurement problems in more efficient ways. The Company’s primary business activity revolves around the commercial development of premium quality sensors and data gathering systems which are used primarily in oil and gas wells.
For further information please contact
President, CEO, Director
Real Time Measurements Inc.
4500 50th Avenue SE Calgary AB T2P 3R4
The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.