New Issue: Cantronic settles C$2.3 million private placement of 10% convertibles

By Devika Patel

Knoxville, Tenn., Dec. 18 - Cantronic Systems Inc. said it sold C$2.3 million in 10% unsecured convertible debentures due Dec. 15, 2014. The deal priced on Dec. 9.

The debentures are convertible into common stock at C$0.40 per share.

Based in Coquitlam, B.C., Cantronic manufactures, distributes and provides training for thermal infrared imaging and condition monitoring, as well as for infrared night vision technology, specializing in passive and active infrared cameras, infrared illuminators, low light infrared sensitive charge-coupled device cameras and long-range night vision surveillance systems for various security applications.

Issuer:	Cantronic Systems Inc.
Issue:	Unsecured convertible debentures
Amount:	C$2,299,000
Maturity:	Dec. 15, 2014
Coupon:	10%
Price:	Par
Yield:	10%
Conversion price:	C$0.40
Warrants:	No
Pricing date:	Dec. 9
Settlement date:	Dec. 18
Stock symbol:	TSX Venture: CTS
Stock price:	C$0.27 at close Dec. 9
Market capitalization:	C$22.8 million

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