Smartcool Systems to raise up to $500K

pcNewsWireSmartcool Systems Inc. (TSX-V: SSC) intends to close a non-brokered private placement offering of up to 16,666,666 units at a price of $0.03 per unit for gross proceeds of $500,000.

Proceeds will be used for inventory purchase, marketing, repayment of debentures, and general working capital.

News Release

SMARTCOOL ANNOUNCES PRIVATE PLACEMENT OFFERING

Vancouver, British Columbia June 15, 2017

Smartcool Systems Inc. (TSXV: SSC) (the “Company”) is pleased to announce a non-brokered private placement offering (the “Offering”) of up to 16,666,666 units (the “Units”) at a price of $0.03 per Unit, for maximum gross proceeds of $500,000. This Offering is replacing the $0.025 private placement offering announced on April 26, 2017, which was discontinued before the Company completed any subscriptions.

Each Unit will be comprised of one common share in the capital of the Company (a “Share”) and one non-transferable share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share in the capital of the Company (a “Warrant Share”) for a period of 5 years from the closing date at an exercise price of $0.05.

Finder’s fees or brokers’ commissions may be paid in accordance with the TSX Venture Exchange (the “TSX-V”) policies.

The Offering is subject to receipt of approval from the TSX-V. All Shares and Warrant Shares issued will be subject to resale restrictions imposed by applicable law or regulation, including a four month hold period that will begin on the Closing Date.

If the Company raises the entire amount sought, the Company intends to use the proceeds of
the Offering as follows:
 Approximately $150,000 for inventory purchase;
 Approximately $100,000 for marketing;
 Approximately $120,000 for repayment of debentures; and
 If the Company successfully raises the entire $500,000, it intends to use $130,000 of the gross proceeds for general working capital.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Shares or Warrants in the United States. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Smartcool
Smartcool Systems Inc. (TSXV: SSC) provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3 and ESM are Smartcool’s unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by 15% to 20%, giving a return on investment in 12 to 36 months.

On behalf of Smartcool Systems Inc.
Theodore Konyi, President
604.669.1388

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.