Adsero issues units in connection with private placements of subscription receipts

By Sheri Kasprzak

New York, Jan. 6 - Adsero Corp. said it has issued units connected to three private placements of subscription receipts completed earlier this year.

The company issued a total of 7,960,500 units of one share and one warrant to the 13 investors from the three offerings.

The warrants are exercisable at $1.25 each. A total of 2,560,500 of the warrants expire on Jan. 21, 2008, 4 million of the warrants expire on May 9, 2008 and 1.4 million expire on May 29, 2008.

In the first offering, completed July 28, the company issued 1,707,000 subscription receipts at $0.75 each. In the second, closed on Nov. 9, the company sold 2,253,500 receipts at $0.75 each and in the final deal, closed Nov. 15, the company sold 4 million receipts at $0.50 each.

The receipts were all exchangeable on a one-for-one basis for the units the earlier of Dec. 31 of the closing of a prospectus and registration statement. The receipts were exchanged on Dec. 31.

Loewen, Ondaatje, McCutcheon Ltd. was the placement agent.

Based in Saint Julie, Quebec, Adsero is a holding company for companies that make toner and inkjet cartridges.

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