April 7, 2010 (FinancialWire) — AgriTec Systems, Inc. (TSX Venture: AGR) intends to offer for sale up to 2,500,000 common shares at a price of $0.20 per common share by way of a non-brokered private placement for gross proceeds of up to $500,000.

Though the offering is not brokered, AgriTec reserves the right to pay to arm's length parties who assist with the placement of securities in connection with the offering a finder's fee or cash commission equal to a maximum of 8% of the gross proceeds raised pursuant to the offering. Proceeds of the placement will be used for general working capital. The required documentation is being filed with the TSX Venture Exchange, and completion of the private placement is pending regulatory approval.

AgriTec is a Houston, Texas based corporation engaged in the pursuit of "clean tech" business opportunities for the conversion of bio-mass (specifically rice hull ash) into value added commodities, and has been issued a number of world-wide patents in this regard.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[grrnnwsnr] [offrngnrf]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.