For Immediate Release – January 30, 2001
Toronto, Ontario – Spectra Inc. (SSA: CDNX) announces that it has filed for acceptance by the Canadian Venture Exchange, a proposed private placement of 2,500,000 common shares at a purchase price of $0.30 per share. The private placement includes a warrant per share entitling the holder to purchase over a two-year period one common share at a price of $0.40 in the first year and $0.50 during the second year. The private placement will be subject to hold periods under applicable securities legislation. Proceeds will be used for general working capital.
The Company reports that is has terminated the proposed private placement of 440,000 common shares at a price of $0.25 per share previously announced October 16, 2000.
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 |
