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Smartcool Announces $500,000 Private Placement

^{Published on 2009-06-12 06:08:39, Last Modified on 2009-06-12 06:09:21 - Market Wire}
 

 VANCOUVER, June 12 /CNW/ - Smartcool Systems Inc. (TSXV: SSC) is pleased to announce that it has arranged a non-brokered private placement (the "Private Placement") of up to 3,125,000 share purchase units (the "Units") at a price of $0.16 per Unit for gross proceeds of up to $500,000. Each Unit consists of one common share (a "Share") and one-half of one common share purchase warrant (a "Warrant"). One whole Warrant entitles the holder to purchase an additional Share at a price of $0.30 per Share for a period of one year from the date of issuance. Shares purchased are subject to a four month hold period. The proceeds from the Private Placement will be used to further develop SmartCool's proprietary energy efficiency technology and to establish the expansion of the Company's sales and distribution network within North America focusing on British Columbia and otherwise provide working capital. A finder's fee may be payable on the Private Placement. The private placement is subject to the acceptance for filing of the TSX Venture Exchange. About Smartcool Systems Inc. Smartcool Systems Inc. (SSC: TSX.V) manufactures and distributes the Smartcool Energy Saving Module (ESM)(TM) and the ECO(3)(TM), which make refrigeration and air conditioning systems more efficient, resulting in proven cost savings, reduced energy consumption, and a smaller carbon footprint. The Smartcool ESM(TM) can be retrofitted to existing refrigeration and air conditioning systems and is compatible with all known control systems. More than 26,000 units have been installed worldwide for customers such as supermarkets, food distributors, telecommunications companies, hospitals, and hotels. Smartcool's new ECO(3)(TM) provides the same environmental and cost-saving benefits to residential and commercial customers using one and two compressor cooling systems. ([ www.smartcool.net ]) The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. %SEDAR: 00015981E 

For further information: Investors: Allan Thompson - Phone: (604) 669-1388 or 1-888-669-1388 - Email: [ allant@smartcool.net ]; Customers: Chris Lefaivre - Phone: (604) 669-1388 - Email: [ chrisl@smartcool.net ]