Mr. Ted Konyi reports
SMARTCOOL ANNOUNCES SHARES FOR DEBT
Smartcool Systems Inc. has reached an agreement with two creditors, one of whom is a director of and consultant to the company, and the other an arm's-length lender, pursuant to which the company will settle outstanding debt in the aggregate amount of $115,366.90 in exchange for the issuance of an aggregate of 1,857,338 common shares of the company to the creditors at a price of five cents per share. This debt settlement is subject to the approval of the TSX Venture Exchange.
About Smartcool Systems Inc.
Smartcool Systems provides cutting-edge energy-efficient and energy-cost-reduction solutions for businesses around the world. The ECO3, ESM and ECOHome are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by up to 40 per cent.
We seek Safe Harbor.
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