SYL

NOT FOR DISTRIBUTON TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Symax Lift Holding Co. Ltd. ("Symax" or the "Company") (TSX VENTURE:SYL), is
pleased to announce that it has closed a non brokered private placement of
2,387,119 Units at a price of $0.25 per Unit for gross proceeds of $596,779.75
(the "Offering"). Each Unit consists of one common share and one half of one
common share purchase warrant, each whole warrant will entitle the holder
thereof to purchase an additional common share of the Company at a price of
$0.40 until June 3, 2012.


The Company will use the proceeds raised from the Offering for general working
capital. The common shares and warrants issued pursuant to the Offering are
subject to a four month hold period expiring on October 4, 2010.


About the Company

The Company, is engaged in the business of development, manufacture, and sales
of elevators in the People's Republic of China ("China"), as well as the
provision of after-sales services in China and worldwide. The Company's products
and services include a main line of standardized products such as passenger
elevators, goods/freight elevators, villa elevators, panorama elevators,
hospital elevators, residential and commercial escalators and moving walkways,
in addition to customized elevator products. The Company distributes its
products in China through a sales network of more than 200 agents and
distributors and also has sales networks operating in 17 other countries.


The Company's 10,000-square-meter manufacturing facility is located in the
Xishan Economic Development Zone in the city of Wuxi, China. The Company's
operations employ approximately 122 employees.

Symax Lift (Holding) Co. Ltd. (TSXV:SYL)
Historical Stock Chart
From Jun 2024 to Jul 2024

Symax Lift (Holding) Co. Ltd. (TSXV:SYL)
Historical Stock Chart
From Jul 2023 to Jul 2024