SAINT-ÉPHREM-DE-BEAUCE, QC, Dec. 12, 2013 /CNW Telbec/ - Sigma Industries
Inc. ("Sigma" or the "Company") (TSXV: SSG) is pleased to announce
its completion on December 11, 2013
of a private placement of a loan and secured convertible debentures
for a principal amount of $1,075,000.
This private placement will consist of: (i) a
loan of $800,000 for a term of eight
years, bearing interest at an annual rate of 10%, payable
quarterly, and convertible at any time during the five years
following its disbursement, in whole or in part, into common shares
of Sigma, at a price of $0.05 per
share for an initial amount of $500,000 during the first year of the loan and
$0.10 per share for the balance
during the five years following disbursement; and (ii) five-year
debentures totalling an amount of $275,000, bearing interest at an annual rate of
10%, payable quarterly, and convertible at any time, in whole or in
part, into common shares of Sigma at a price of $0.10 per share. Of this principal amount,
$175,000 was purchased by
insiders.
Net proceeds from the placement will be used to
increase the Company's working capital.
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 components, has four
operating subsidiaries and employs 400 people. The Company is
active in the heavy-duty truck, coach, transit, machinery 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.
SOURCE SIGMA INDUSTRIES INC.