Sigma Industries Reorganization Plan Conditionally Approved


Sigma Industries Inc., a composite and metal products manufacturer, has received conditional approval from the TSX Venture Exchange for the company's reorganization.

Subject to the conditions of this approval, Sigma intends to complete its reorganization before the end of the calendar year. The reorganization will consolidate the Sigma capital stock already issued, cancel all options and stock purchase warrants outstanding, complete a private placement in the form of secured convertible debentures for a minimum capital of C$500,000 and a maximum capital of C$1 million, and issue 1 million common shares at a price of C$0.40 per post-consolidation share in partial settlement (C$400,000) of a debt to a secured creditor.

SOURCE: Sigma Industries Inc.

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