Date Announced: 02 Jul 2010 Welland, Ontario - CRS Electronics Inc., an inventor, developer and manufacturer of LED lighting, is pleased to announce that the Company is arranging a non-brokered private placement financing of 2,004,446 units at $0.55 per unit for gross proceeds of $1,102,445. Each unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company, each whole warrant entitles the holder to purchase one common share at an exercise price of $0.70 per share for a two-year period following the closing date. The proceeds will be used by CRS for general working capital purposes. The Company expects to complete the private placement on or about July 5, 2010. Closing of the private placement is subject to receipt of all applicable regulatory approvals, including final acceptance of the TSX Venture Exchange. There can be no assurance that the private placement will be completed as proposed or at all. About CRS CRS 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. Several of CRS's customers use CRS LED MR16 lamps to replace up to 50 watt halogen MR16s.
Contact
CRS Electronics Debbie Bamforth Corporate Communications 905-599-3322 [email protected] or CRS Electronics Al Hussey Chief Operating Officer 905-788-9039
E-mail:[email protected]
Web Site:www.crselectronics.com
