For Immediate Release – May 9, 2006
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE), subject to regulatory approval, will carry out a non-brokered private placement of up to nine million units at a price of 5 cents per unit for gross proceeds of up to $450,000. Each unit is comprised of one common share in the capital of Spectra and one non-transferable share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share of Spectra for a period of 24 months from closing at an exercise price of 10 cents per share.
Cash finders fees of up to 6 per cent of the proceeds of the offering and up to 570,000 warrants may be payable. All shares, warrants and any shares issued upon exercise of the warrants with respect to the above private placements are subject to a hold period and may not be traded for four months plus one day from the date of issuance. Proceeds from the non-brokered private placement will be used for building inventory and general working capital.
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 increases productivity, reduces maintenance costs and improves fleet safety and includes Brake Safe ® and SureStroke TM, visual brake stroke indicators, Brake Inspector® an innovative, advanced electronic air brake diagnostic system and the Termin-8R TM line of anti-corrosion and extreme pressure lubricants.
Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Company’s customers. Actual results and developments may therefore differ materially from those described in this release.
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 |
