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Completion of Private Placement
GRAND ISLAND, Neb., May 13 /PRNewswire-FirstCall/ -- Sense Technologies Inc.
(OTC:SNSG) (BULLETIN BOARD: SNSG) is pleased to announce that it has completed
a private placement of 14,324,000 units at USD$0.05 per unit for proceeds to
the company of USD$716,200. Each unit consists of one common share and one
common share purchase warrant. Each warrant entitles the holder thereof upon
due exercise to acquire one additional common share in the capital stock of the
company at a price of USD$0.15 for a period of eighteen months from the date of
closing of the sale of the units. If the market price for the company's common
stock, as quoted on a quotation facility or stock exchange, exceeds USD$0.40
for 5 consecutive trading days, the company may require the holder to exercise
the warrants on or before 60 calendar days from delivery of such notice,
failing which any unexercised warrants will be deemed expired.
All of the securities are subject to resale restrictions under Rule 144 puruant
to the U.S. Securities Act of 1933.
The company also announces that David Hansing has resigned as director of the
company. The company will not be appointing another director at this time.
Background
Sense Technologies, Inc. (OTC:SNSG) (BULLETIN BOARD: SNSG) , a publicly traded
company, develops and markets backing awareness products for the automotive
industry that have been created to help drivers avoid tragic accidents
resulting from vehicle blind spots and impaired rear visibility. The company
currently sells two patented technologies -- Guardian Alert(R), a Doppler
awareness-based rear sensing device, and ScopeOut(R), an aerodynamic mirror
system that enables drivers of cars and SUVs to see an enhanced panoramic rear
view of oncoming traffic prior to backing out. Sense Technologies, Inc.'s sales
offices are headquartered at Alhambra Plaza, 725 N. Hwy A-1-A, Suite C- 106,
Jupiter, Florida 33477-4565. For additional information, please call Tim
Goldsbury, National Sales Director, Sense Technologies, Inc., 561-744-2952; ,
toll-free 866-617-2327, or visit http://www.sensetech.com/.
DATASOURCE: Sense Technologies Inc.
CONTACT: Tim Goldsbury, National Sales Director of Sense Technologies,
Inc., +1-561-744-2952, or
Web site: http://www.sensetech.com/