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TSO3 enters into a bought deal agreement for Cdn $ 20,000,000February 14, 2007Québec City, February 14, 2007 – TSO3 Inc. (the "Company") is pleased to announce that it has entered into an agreement to sell, on a bought deal basis, 8,000,000 units (the "Units") at a price of C$2.50 per Unit to a syndicate of underwriters led by Canaccord Adams, for gross proceeds to the Company of C$20 million. Each Unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable at a price of C$3.00 for a period of two years from the closing date.In addition, the Underwriters have been granted an option (the "Over-allotment Option") to sell that number of additional Units as is equal to 15% of the size of the offering for market stabilization and over-allotment purposes. The Over-allotment Option may be exercised at any time, in whole or in part, until that date which is 30 days following the closing date. The offering is scheduled to close on or about March 8, 2007 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange. Proceeds of the offering will be used by the Company for sales and marketing and general corporate purposes. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. About TSO3 TSO3 Inc. is located in Québec City, Québec, Canada, and was founded in 1998. The Company’s mission is to develop and market innovative and comprehensive sterilization solutions. TSO3 has perfected an innovative sterilization process using ozone as the sterilizing agent. The first product based on this technological platform is the 125L Ozone Sterilizer, which is intended for hospital sterilization units. The 125L – named after its 125-litre/4.3-cubic-foot capacity – was designed to sterilize heat-sensitive surgical and diagnostic devices which are expensive and in high demand from the surgical suite. The ozone sterilization process is a safe, efficacious, fast and cost-effective response to evolving sterilization needs. The 125L Ozone Sterilizer by TSO3 has been cleared for commercialization by Health Canada and by the U.S. Food and Drug Administration (FDA). TSO3 completed the sale of its first sterilizer in Q4 2005. TSO3 currently has about 50 employees, 22 of whom work in the sales and marketing team. The statements in this release and oral statements made by representatives of TSO3 relating to matters that are not historical facts (including, without limitation, those regarding the timing or outcome of any financing undertaken by TSO3) are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of TSO3 to obtain financing on favourable terms and other risks and uncertainties. The TSX has neither approved nor disapproved the information contained herein and accepts no responsibility for it. - 30 - Source: TSO3 Inc. Information: Marc Boisjoli CFO (418) 651-0003, Ext. 228 Email : mboisjoli@tso3.com Mathieu Claise Interim Director, Corporate Communications and Investor Relations (418) 651-0003, Ext. 237 Email: ir@tso3.com |
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