Date Announced: 31 Dec 2009WELLAND, ONTARIO -- CRS Electronics Inc. ("CRS"), (TSX VENTURE:LED), an engineer, designer, and manufacturer of LED lighting, today announced a fully subscribed non-brokered private placement of common share and warrant Units for $1,250,000. Dynamic Venture Opportunities Fund Ltd., a subsidiary of DundeeWealth Inc., subscribed for and closed on $1,000,000 of the private placement. CRS executed subscription agreements for the remaining $250,000 with the receipt of funds expected on or before December 29th, 2009."We are extremely pleased that a leading Canadian fund has recognized CRS as an emerging public company representing a great investment opportunity in the Greentech sector. CRS is positioned to bring significant environmental and fiscal benefits to our customers through industry leading LED light technology." said Scott Riesebosch, President of CRS Electronics. "This funding will be used to support our aggressive growth strategy and provide general working capital needed to execute on our expanding pipeline of orders."The Units are comprised of one Common Share and one half of a warrant at a price of $0.45 per Unit. Each whole warrant entitles the holder to acquire one common share upon payment of $0.65 per common share for a period of twelve (12) months. The total maximum Units to be issued is 2,777,777. The total maximum number of common shares to be issued if all warrants are exercised is 4,166,664 representing 16.6% of the current common shares issued and outstanding. The warrants will not be registered for trading and all common shares issued directly or through the exercise of warrants will have a four month hold period from the date of closing. Multiple closings were permitted.The Price Reservation Form was filed on December 16, 2009. On December 21, 2009, the Company received conditional acceptance from the TSX Venture Exchange. All of the subscribers will be accredited investors based in Canada or based in the United Sates. About Dynamic Funds and DundeeWealth Inc.Dynamic Funds is a division of Goodman & Company, Investment Counsel Ltd., a wholly owned subsidiary of DundeeWealth Inc. (TSX:DW). Goodman & Company offers a wide range of wealth management solutions through financial advisors. These include the mutual funds, hedge funds and closed-end investment trusts of Dynamic Funds, the portfolio solutions of the Marquis Investment Program, the flow-through limited partnerships of CMP(TM) and Canada Dominion and the high-net worth investment counsel of Goodman Private Wealth Management.DundeeWealth Inc. (the "Company" or "DundeeWealth" or "we") is a Canadian owned, independent wealth management company that provides diversified wealth management and investment solutions including alternative and tax-advantaged products, capital markets and advisory services to financial advisors, institutions, corporations and foundations, and innovative wealth management through independent financial advisors across Canada. The Company is listed on the Toronto Stock Exchange ("TSX") under the symbol DW. DundeeWealth Inc. has $33 billion in assets under management and $6.8 billion in cash in the bank.About CRSCRS is a leader in the emerging, rapidly-growing market of high efficiency light-emitting-diode ("LED"), or, solid state lighting ("SSL"). The principal activities of CRS include the development, manufacture and sale, primarily in North America, of indoor and outdoor lighting such as LED replacement lamps, LED streetlights, exterior LED warning lights on school buses, child safety systems for school buses and contract manufacturing of LED circuit boards. CRS is a well-established supplier to both the school bus industry and the LED contract manufacturing industry, providing a stable and growing revenue source. CRS plans to be a major supplier of LED light engines for a variety of applications to be developed by CRS on its own and in conjunction with its customers. The Company currently sells one of the very few replacement LED MR16 lights capable of replacing a halogen 50 watt MR16.
Contact
CRS Electronics Inc. Al Hussey, Chief Operating Officer 905-788-9039
E-mail:[email protected]
Web Site:www.crselectronics.com
