For Immediate Release – January 17, 2001
Toronto, Ontario – Spectra Inc. (SSA: CDNX) reports it has completed the shares for debt arrangement recently accepted by the Canadian Venture Exchange. The Company has issued 150,000 common shares at a deemed price of $0.25 to John L. Schandelmeier with a four-month hold period. Accordingly, the $37,500 debt has been retired.
The recently announced acquisition of the Brake Inspector patent (January 16, 2001) included compensation to Brake Inspector in the form of 100,000 options and a deemed exercise price of $0.25 per share. Any shares issued upon exercise of these options have a mandatory 12-month hold period.
Spectra Inc. is a vertically integrated supplier of innovative products and services to the Commercial Transportation Industry and the Professional Trucker. Spectra’s product line improves fleet safety and productivity and includes Brake Inspector TM, an electronic brake diagnostic system, Brake Safe TM, a visual brake stroke indicator, the Termin-8r TM line of anti-corrosion and extreme pressure lubricants and the revolutionary SmarTire TM, a wireless tire monitoring system. Spectra is positioned through its ISP portal, “Truckinguniverse.com”, to be a leading supplier of information to the transportation industry on the Information Superhighway, providing today’s modern trucker fast and easy access to industry specific information required to maximize profits and minimize down time.
On behalf of the Board of Directors,
Andrew J. Malion, Chairman, Spectra Inc. www.spectra-ssa.com
Investor Relations: 1-800-308-5255 E-Mail: ssa@spectra-ssa.com
The TSX VENTURE Exchange has neither approved nor disapproved the information contained herein |
