(Vancouver, Canada) January 15th, 2007, 06:00 EST - Norsat International Inc. (TSX - NII.TO; OTC BB - NSATF.OB), a leading provider of intelligent satellite solutions, today announced that it has issued and received consideration for 1,065,968 common shares and 532,984 non-transferable common share purchase warrants in connection with its Employee Share Ownership Plan announced December 11th, 2006.The Company generated gross proceeds of $479,686 and issued common shares at the same price as the previous private placement at US$0.40, or CAD$0.45. Subscribers received one-half of one non-transferable share purchase warrant for each common share purchased. Each whole share purchase warrant entitles the holder to purchase one common share at a price of $0.54 (or US$0.48) for two years from the closing date, January 12th, 2006. The issued and outstanding share capital of the company is now 50,628,526 common shares.
“We had broad-based interest with the entire management team and the majority of the employees and directors participating,” said Dr. Amiee Chan, President and CEO, Norsat International Inc. [ more ›› ]
