Test and Measurement Innovators Focused on Key Growth Markets
Xenemetrix, winner of the Frost & Sullivan awards - 2010 and 2015
Eurocontrol Confirms Closing of Private Placement Financing
TORONTO, ONTARIO--(Marketwire - Aug. 28, 2009) -
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES
Eurocontrol Technics Inc. (TSX VENTURE:EUO), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication, verification and energy security technologies, today announces that it will not be closing the second tranche of its previously announced private placement financing (See Press Releases Dated June 15, 2006 and July 6, 2006).
The first tranche of the private placement financing closed on July 6, 2009 for gross proceeds in the amount of $1,063,010.34.
About Eurocontrol Technics Inc.
Eurocontrol Technics Inc. through its wholly owned subsidiary Global Fluids International S.A. ("GFI") is one of the world's pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through its proprietary Petromark(TM) integral system, GFI has developed a 4-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's 5-year R&D efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol Technics Inc. allows management to pursue numerous anticipated oil marking opportunities in fiscal 2010 and in years to come.
Cautionary Note Regarding Forward-looking Information
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the future operating and financial performance of the Company, the proposed use of proceeds and the terms of the financing. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially, include, among others, regulatory risks, market risks, competition risks, execution risks, country risks, and lack of a history of profitability. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.