NEWS RELEASEVendTek one-million-share private placement
VendTek Systems Inc VSI
Shares issued 13,355,806 Dec 4 close $0.12
Thu 5 Dec 2002 Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect
to a non-brokered private placement announced Nov. 26, 2002:
No. of shares: one million
Price: 12 cents per share
Warrants: one million share purchase warrants to purchase one
million shares
Warrant price: 15 cents for a two-year period
No. of placees: one
Insider/pro group panone
Finder's fee: 10-per-cent cash payable to Beacon Pacific Capital Ltd.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the company must
issue a news release announcing the closing of the private placement and
setting out the expiry dates of the hold period(s). The company must also
issue a news release if the private placement does not close promptly.