Press release from Marketwire
SENSIO Announces Further Extension of the Closing Date of Its Financing
Monday, August 19, 2013
SENSIO Announces Further Extension of the Closing Date of Its Financing08:30 EDT Monday, August 19, 2013
MONTREAL, QUEBEC--(Marketwired - Aug. 19, 2013) - SENSIO Technologies Inc. ("SENSIO" or "the Company") (TSX VENTURE:SIO)(OTCBB:SNIOF), announced today that it has agreed with Global Maxfin Capital Inc. to extend the closing date of its private placement initiated in June 2013. The closing date initially set on or before August 16, 2013, has therefore been extended to on or about September 16, 2013. This extension will allow the Company to conclude ongoing discussions with some investors.
"In light of recent commercial developments, we have decided to redefine the mandate that has been given to Global Maxfin Capital in order to obtain better conditions, thereby allowing us to reduce dilution associated with the new financing, for the benefit of all current shareholders of SENSIO", said Nicholas Routhier, President and CEO of SENSIO. "The financing process is well underway since a few weeks, and we are confident that it will be completed on or about September 16 in accordance with the new deadline".
For further information on SENSIO and its technologies, please visit www.sensio.tv.
About SENSIO Technologies Inc. (SENSIO):
SENSIO Technologies Inc. (www.sensio.tv) has been leading the floor in bringing 3D video to the consumer since 1999. Its vision, expertise and state-of-the-art solutions, based on diversified stereoscopic image-processing technologies, have been trusted by some of the biggest names in the media and entertainment industries to power numerous industry firsts, initiate new business models and generate immediate revenue with a distinctive 3D offering.
SENSIO enables its clients to deliver the best possible 3D experience for the end-user through a broad portfolio of products, including its flagship, award-winning technology, SENSIO® Hi-Fi 3D. Through SENSIO solutions, consumers can access - with effortless interaction and complete peace of mind - 3D content of superior quality to common frame-compatible formats distributed over existing infrastructure (cable, satellite or over IP) and displayed using any existing digital equipment (cinema, home cinema, TV, game consoles or PC). SENSIO is listed on the Toronto TSX Venture Exchange.
SENSIO® is a registered trademark of SENSIO Technologies Inc.
Caution Concerning Forward-Looking Statements
Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions. A number of factors beyond the control of SENSIO could cause the aforementioned private placement to be delayed or cancelled, including general market conditions, failure to locate subscribers willing to participate or failure to obtain the necessary regulatory approvals . The results or events predicted in these forward-looking statements may differ materially from actual results or events. As a result, readers are cautioned not to place undue reliance on these forward looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management's discussion and analysis of SENSIO for the quarter ended February 28, 2013. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chief Financial Officer