Smartcool Systems Inc. (TSXV:SSC) announced a non-brokered private placement of up to 8,000,000 units at a price of CAD 0.025 per unit for gross proceeds of CAD 200,000 on April 6, 2016. Each unit consists of one common share and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at an exercise price of CAD 0.05 per share for a period of 12 months from the date of closing.

The transaction is subject to TSX Venture Exchange approval. The securities issued in the transaction are subject to a four month hold period from the date of closing.