Gatorz Inc. Announces Increase to Proposed Unit Private Placement Offering
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TORONTO, ONTARIO, Jul 22 (MARKET WIRE) --
Gatorz Inc. ("Gatorz") (TSX VENTURE: GTZ) announced today that the
proposed non-brokered private placement offering (the "Offering")
previously announced on July 14, 2008 has been over-subscribed and
therefore the offering has been raised to a maximum of 4,900,000 units
("Units") at a price of $0.10 per Unit, for aggregate gross proceeds of
$490,000. Each Unit will consist of one common share in the capital of
the Corporation (a "Common Share") and one half of one common share
purchase warrant (a "Warrant"). Each whole Warrant is exercisable into
one Common Share at a price of $0.20 for a period of six months following
the closing of the Offering.
The proceeds of the Offering will be used for operating capital and
general marketing initiatives associated with World Class Brands in the
travel retail market, HCK Global in the domestic retail market. and new
initiatives for the U.S. military market.
About Gatorz
Gatorz Inc. (www.gatorz.com) designs and distributes aircraft aluminium
and hand made acetate action performance eyewear, including sunglasses
and accessories targeted to the Motorsports, Outdoors (hunting, fishing
and boating), Travel Retail and Security/Military markets. Gatorz Inc.
products are proudly worn by race car drivers Marco and Michael Andretti
(IRL), Kurt Busch and Sam Hornish Jr. (NASCAR) as well as other
professional and amateur athletes.
Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are
subject to significant risks and uncertainties that are difficult to
predict. Actual results might differ materially from results suggested in
any forward-looking statements. The risks going forward remain adding
production capacity and the ability to meet this demand, controlling
costs and sourcing ongoing funds to meet increased growth targets. Gatorz
is also subject to the general economic conditions in the domestic and
international markets it operates in. Gatorz Inc. assumes no obligation
to update the forward-looking statements, or to update the reasons why
actual results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Gatorz Inc.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
Contacts:
Gatorz Inc.
Mark Di Cristofaro
Investor Relations
(905) 339-7999 ext.224
Email: mdicristofaro@gatorz.com
Website: www.gatorz.com
Copyright 2008, Market Wire, All rights reserved.
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