Business & Finance
Wed, February 4, 2009
Tue, February 3, 2009Mon, February 2, 2009ENGINEERING.com Incorporated: ENGINEERING.com Incorporated Announces Private Placement
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Published in Business and Finance on Tuesday, February 3rd 2009 at 14:09 GMT, Last Modified on 2009-02-03 14:10:03 by Market Wire🞛 This publication is a summary or evaluation of another publication
TORONTO, ONTARIO--(Marketwire - Feb. 3, 2009) - ENGINEERING.com Incorporated (the "Company") (TSX VENTURE:EGN) wishes to announce a non-brokered private placement of approximately 7,374,124 Common Shares at a subscription price of $0.05 per share for gross proceeds of $368,706.20.
In accordance with the Rules of the TSX Venture Exchange, the Company also announces that the offering will be entirely subscribed for by Mr. Frank Baldesarra, Chairman of the Company. Prior to the completion of the offering, Mr. Baldesarra controls 11,516,637 Common Shares which represents approximately 39% of the total number of outstanding Common Shares. Upon completion of the offering, Mr. Baldesarra will control 18,890,761 Common Shares representing approximately 51.2% of the total number of outstanding Common Shares.
The proceeds from the offering will be used for general working capital purposes. The offering is subject to receipt of approval from the TSX Venture Exchange.
About ENGINEERING.com Incorporated
ENGINEERING.com Incorporated (TSX VENTURE:EGN) is the developer-owner of the [ www.ENGINEERING.com ] Web site and Internet-based software and business. ENGINEERING.com offers hosted and deployed engineering software and services to manufacturers, design consultants and engineering academia around the world. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at [ www.ENGINEERING.com ].
Shares Outstanding: 29,496,499
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.