Completion of Private Placement
13 Maio 2005 - 11:39AM
PR Newswire (US)
Completion of Private Placement GRAND ISLAND, Neb., May 13
/PRNewswire-FirstCall/ -- Sense Technologies Inc. (OTC:SNSG)
(BULLETIN BOARD: SNSG) is pleased to announce that it has completed
a private placement of 14,324,000 units at USD$0.05 per unit for
proceeds to the company of USD$716,200. Each unit consists of one
common share and one common share purchase warrant. Each warrant
entitles the holder thereof upon due exercise to acquire one
additional common share in the capital stock of the company at a
price of USD$0.15 for a period of eighteen months from the date of
closing of the sale of the units. If the market price for the
company's common stock, as quoted on a quotation facility or stock
exchange, exceeds USD$0.40 for 5 consecutive trading days, the
company may require the holder to exercise the warrants on or
before 60 calendar days from delivery of such notice, failing which
any unexercised warrants will be deemed expired. All of the
securities are subject to resale restrictions under Rule 144
puruant to the U.S. Securities Act of 1933. The company also
announces that David Hansing has resigned as director of the
company. The company will not be appointing another director at
this time. Background Sense Technologies, Inc. (OTC:SNSG) (BULLETIN
BOARD: SNSG) , a publicly traded company, develops and markets
backing awareness products for the automotive industry that have
been created to help drivers avoid tragic accidents resulting from
vehicle blind spots and impaired rear visibility. The company
currently sells two patented technologies -- Guardian Alert(R), a
Doppler awareness-based rear sensing device, and ScopeOut(R), an
aerodynamic mirror system that enables drivers of cars and SUVs to
see an enhanced panoramic rear view of oncoming traffic prior to
backing out. Sense Technologies, Inc.'s sales offices are
headquartered at Alhambra Plaza, 725 N. Hwy A-1-A, Suite C- 106,
Jupiter, Florida 33477-4565. For additional information, please
call Tim Goldsbury, National Sales Director, Sense Technologies,
Inc., 561-744-2952; , toll-free 866-617-2327, or visit
http://www.sensetech.com/. DATASOURCE: Sense Technologies Inc.
CONTACT: Tim Goldsbury, National Sales Director of Sense
Technologies, Inc., +1-561-744-2952, or Web site:
http://www.sensetech.com/
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