ENGINEERING.com Incorporated Announces Private Placement
04 March 2009 - 8:53AM
Marketwired
ENGINEERING.com Incorporated (the "Company") (TSX VENTURE: EGN) has
closed a non-brokered private placement of approximately 7,374,124
Common Shares at a subscription price of $0.05 per share for gross
proceeds of $368,706.20. The proceeds from the offering will be
used for general working capital purposes.
In accordance with the Rules of the TSX Venture Exchange, the
Company also announces that the offering was entirely subscribed
for by Mr. Frank Baldesarra, Chairman of the Company. Prior to the
completion of the offering, Mr. Baldesarra owned or controlled
11,516,637 Common Shares, which represented approximately 39% of
the total number of outstanding Common Shares. As a result of the
offering, Mr. Baldesarra now owns or controls 18,890,761 Common
Shares, which represents approximately 51.2% of the total number of
outstanding Common Shares. The Common Shares are subject to a hold
period of four months and a day ending July 4, 2009.
No finder's fee was paid in connection with the offering. The
TSX Venture Exchange issued its final acceptance of the offering on
February 11, 2009, subject to standard filing requirements.
About ENGINEERING.com Incorporated
ENGINEERING.com Incorporated (TSX VENTURE: EGN) is the
developer-owner of the www.ENGINEERING.com Web site and
Internet-based software and business. ENGINEERING.com offers hosted
and deployed engineering software and services to manufacturers,
design consultants and engineering academia around the world. The
ENGINEERING.com Incorporated head office is located in Mississauga,
Ontario, Canada and can be reached toll-free at 1-877-997-9917, by
facsimile at 905-273-6691 or through the Internet at
www.ENGINEERING.com.
Shares Outstanding: 36,870,623
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: ENGINEERING.com, Inc. John Hayes President & CFO
(905) 273-9991, ext. 280 or Toll Free: 1-877-997-9917 (905)
273-6691 (FAX) Email: jhayes@engineering.com Website:
www.engineering.com
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