Smartcool Systems Inc. (TSXV: SSC), is pleased to report that the Company has signed a Letter of Intent with Haywood Securities Inc. (the "Agent" ) with respect to a private placement of up to 5,000,000 units at a price of $1.50 per unit. Each unit will consist of one common share and one-half of a transferable share purchase warrant. Each full share purchase warrant is exercisable at a price of $1.90 per share for a period of two years. A commission will be paid to the Agent, consisting of cash of 7% and Agent's options entitling the purchase of 7% of the number of Units sold under the Offering for a period of 12 months at $1.50.

 

The proceeds of this private placement will be used towards working capital to allow for increased production and marketing of Smartcool's Energy Savings Module (ESM™).

Closing of this private placement is subject to acceptance for filing by the TSX Venture Exchange.

About Smartcool

Smartcool Systems Inc. (TSX-V: SSC) delivers cutting edge energy efficiency and cost reduction solutions for businesses around the world. The ESM™ and ECO3™ are Smartcool’s unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems. Energy savings achieved by the ESM™ and ECO3™are quantifiable and the products can qualify for government and utility rebates. The technology has been validatedby rigorous third party testing, government organizations and private business installations.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

 

Investor Inquiries

Mike Kordysz
Tel: +1 604 904 8632
mike.kordysz@smartcool.net
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