Adeptron Technologies Corporation (ATQ: TSX) ("Adeptron" or the "Company"), a specialist at delivering integrated product solutions and support to the global technology and electronics industry, reports today on the maturity date for the issued 18-month 12% Subordinated Notes Payable.
As approved by the necessary majority of Note holders, the maturity date for the Notes has been changed to April 30, 2006.
Adeptron will also extend, by approximately 13 months, the term of any outstanding warrants originally issued to the purchasers of Adeptron's Notes, each of which is exercisable to acquire one common share of Adeptron. The extension applies to 1,540,000 warrants currently outstanding as at the date of this news release, none of which are held by insiders of Adeptron. These warrants, formerly scheduled to expire on August 4, 2006, will now expire on August 31, 2007. In addition, the warrant exercise price will be reduced to $0.25 from $0.35. The extension and reduction of the warrant exercise price shall take effect as of March 1, 2006 and Adeptron will contact the holders of the affected warrants to arrange for appropriate documentation of these changes shortly thereafter.
Adeptron's business is Integrating Ideas with Solutions(TM) within the technology and electronics industries, to enhance our customers' competitive advantage. Adeptron delivers global product solutions and support for the complete product life cycle, including design, prototyping, supply chain management, manufacturing, assembly, testing, product assurance, distribution and after-sales service solutions. Adeptron's facilities are ISO 9001:2000 registered.
Adeptron is a public company whose common shares are listed for trading on The Toronto Stock Exchange under the symbol: "ATQ". The Company has approximately 34.6 million common shares outstanding. Visit Adeptron at: www.adeptron.com or www.investorfile.com.
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS, UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE ACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE THOSE DESCRIBED IN DOCUMENTS FILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED ANNUAL AND QUARTERLY REPORTS AND ANNUAL INFORMATION FORM. ACCORDINGLY, NO ASSURANCES CAN BE GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY THE FORWARD- LOOKING STATEMENTS WILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO, WHAT BENEFITS THE COMPANY WILL DERIVE THEREFROM.
For further information: Adeptron Company Contact: F. Michael Marti, President & Chief Executive Officer, Tel: (416) 705-6534, fmmarti@adeptron.com; Adeptron Investor Relations: Gerry Wimmer, INVESTORFILE.com, Tel: (416) 360-8895, Toll Free: 1-888-894-8222, gwimmer@investorfile.com; To request a free copy of this organization's annual report, please go to http://www.newswire.ca and click on Tools for Investors.