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Contec not proceeding with private placement

Briefs | 01/23/2009 4:38 pm EST

As a result of the difficult equity financing markets, Contec Innovations Inc. won’t proceed with its second tranche of the non-brokered private placement, announced last November. The Vancouver-based company will instead seek merger possibilities with other businesses that will allow Contec to maximize the value of its technology and business opportunities in the current financial and business environment.

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