VendTek amends terms of debenture financing
17 September 2012 - 2:46PM
PR Newswire (Canada)
TSX Venture Exchange: VSI VANCOUVER, Sept. 19, 2012 /CNW/ - VendTek
Systems Inc. ("VendTek" or the "Company") today announced that, in
connection with the debenture unit financing announced on September
11, 2012, the number of warrants to be issued pursuant to such
financing have been renegotiated from 860,000 to 7,818,181. The
remaining terms of the debenture unit financing are unchanged from
those previously disclosed. "We are pleased with the continued
support we have received from Privinvest," said Doug Buchanan,
President and CEO of VendTek. "The proceeds from this
financing will enable us to move more quickly to expand our network
in Brazil, thereby providing us the opportunity to grow revenues
from that important market." No finder's fee will be payable in
connection with the debenture unit financing. The debenture unit
financing remains subject to regulatory approval, and all
securities issued in connection with the debenture unit financing
will be subject to a four-month and one day hold period under
applicable securities laws. About VendTek VendTek develops and
licenses automated transaction system software and supporting
technologies. VendTek's customers, subsidiaries and its Now Prepay
division use e-Freshâ„¢ software to build electronic, prepaid
services networks that enable consumers to purchase prepaid
products and services via POS and self-serve terminals connected to
a central server. This system creates significant value through
improved efficiencies compared to a traditional distribution model.
e-Freshâ„¢ reduces shrinkage and inventory requirements for vendors
while improving consumer access to prepaid products and services by
completely eliminating physical cards and vouchers. VendTek has
deployed its software around the world including Canada, United
States, Asia, the Middle East and Africa. For further information
please visit the Company's websites www.vendteksystems.com and
www.nowprepay.com. 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. VendTek Systems Inc. CONTACT:
Samantha White at 604-805-4653 or 1-800-806-4958or
investment@vendteksystems.com.
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