BURNABY, British Columbia--(BUSINESS WIRE)--Viscount Systems, Inc. (OTCBB: VSYS) announces that it has completed a private placement of 16,779,998 shares of common stock at a price of $0.09 per share for total proceeds of $1,510,200. The Company also issued a total of 8,389,995 warrants, each warrant exercisable to acquire an additional share of the Company at an exercise price of $0.20 per share for a period of five years from the closing date. Pickwick Capital Partners, LLC acted as the placement agent for the transaction. The proceeds from the sale of the units will be applied towards general working capital purposes.
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For more information, contact:
Viscount Systems, Inc.
Dennis Raefield, President
Telephone: (604) 327-9446
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States.