Viscount Systems (VSYS)

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Viscount Announces Completion of $500,000 Private Placement

Viscount Systems, Inc. (QB) (USOTC:VSYS)
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Today : Tuesday 27 November 2012

Viscount Systems, Inc. (OTCBB: VSYS) announces that it has completed a private placement of 10,000,000 units of the Company at a price of $0.05 per unit for gross proceeds of $500,000. Each unit consists of one common share and one-half of a share purchase warrant of the Company, with each whole warrant exercisable to acquire an additional share of the Company at a price of $0.10 for a period of 5 years from the closing date. Pickwick Capital Partners, LLC acted as the placement agent for the transaction.

The proceeds from the sale of the units will be applied towards general working capital purposes. The Company also granted registration rights to the purchasers, which may be exercised in certain circumstances. Other than pursuant to the registration rights, the securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. The securities are also subject to restrictions on resale under British Columbia securities laws.