Shares Outstanding: 29,799,810
MONTREAL, June 4, 2012 /CNW Telbec/ - Clemex Technologies Inc. (TSXV: CXG.A) announces it has received the TSX Exchange approval and has finalized a $1,044,000 Private Placement with a Strategic German partner Zwick/Roell AG of ULM, Germany. Clemex issued 5,800,000 new common shares at $0.18 per share in consideration of the investment and therefore, Zwick/Roell will hold 19.46% of the total outstanding common shares of Clemex with this transaction. New shares are subject to a four month and one day hold period.
Zwick/Roell Group who has been a customer of Clemex for the past three years account for about 5% of Clemex's total sales. These new funds will be used to finalize the development of new instruments by Clemex and begin the commercial launching of our products in the Life Sciences markets.
Following the conclusion of the transaction, President and CEO of Clemex Technologies Inc. declared: "We are extremely honored that Zwick/Roell decided to invest in the Corporation. This investment reflects the confidence and satisfaction they have in our products, and in our capacity to design and manufacture even more instruments in the future. Clemex and Zwick have had a very successful business relation in the last few years, particularly with our MicroHardness test software through their Hardness division, Indentec, located in the UK. We now foresee new relationship as both companies have common interests in other Clemex products." He continued: "Zwick Roell is not only a good customer of Clemex, but they are the largest Physical Test equipment manufacturer in the world, with a worldwide distribution network. Already, some dealers have been identified as both Zwick Roell and Clemex Dealers, more specifically in Asia. We believe that this can only be beneficial to both companies on an International market."
Dr Stefan Roell, President and CEO of Zwick/Roell AG pursued:" Zwick is also very satisfied with the investment in Clemex's shareholding. We have had good business relations with them for three years now and we have learned to appreciate the staff and Corporation's business model to the point that we want to be part of their future. We have sent our IT Team to run a Software Due Diligence and the findings concluded that Clemex software is up to its worldwide reputation, being an excellent image analysis software for materials testing application, and this criterion fits precisely in our philosophy of business."
About Zwick/Roell AG, (www.zwick.com)
For over 150 years the name of Zwick Roell has stood for outstanding technical expertise, innovation, quality and reliability in materials and component testing. Our customers' confidence in us is reflected in our position as world-leaders in static testing and the significant growth we are experiencing in fatigue strength testing systems. The figures tell the same story: in the 2010 financial year the company achieved a turnover of €130m.
With innovative product development, a comprehensive range and worldwide service, this family concern supplies tailor-made solutions for the most demanding research and development and quality assurance requirements in over 20 industries. With over 900 employees, a production facility in Ulm, Germany, additional facilities in America and Asia plus agencies in 56 countries worldwide, the Zwick brand name guarantees the highest product and service quality.
About Clemex Technologies, Inc. (www.clemex.com)
Clemex Technologies Inc. develops, manufactures and markets image analysis systems and software used by quality control and research microscopy laboratories. Clemex customer base spans over many countries in America, Europe, Asia and encompasses major Research and Development Centers, prestigious Universities and large manufacturing industries in various fields including healthcare, automotive, aerospace, raw materials manufacturing, pharmaceuticals, mining and other sectors.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.