Active Control Chairman to participate in private placement at $0.22 per share
TSX-V: ACT

TORONTO, June 5 /CNW/ - Active Control Technology Inc. (TSX-V:ACT)
announced today that Mr. Richard Hazell, Chairman of ACT, an insider of the
Company, has agreed to participate in a non-brokered private placement
totaling up to $1,100,000 of gross proceeds for the Company through the sale
of up to 5,000,000 of his free trading common shares at a price of $0.22 per
share.
Mr. Hazell, directly and indirectly, owns just under 14 million shares
representing approximately 9% of the current issued and outstanding shares of
the Company. He has been involved in the Company for over 7 years and remains
committed to the continued success of the Company's commercialization of the
ActiveMine(TM) system. Mr. Hazel will receive no financial gain, directly or
indirectly, through this transaction.
The total gross proceeds realized by Mr. Hazell on the sale of his shares
(being sold as a "swap" - i.e. exchanging his free trading shares for 4 month,
plus one day hold shares) will be immediately reinvested into the Company by
Mr. Hazell purchasing, on a private placement basis, up to 5,000,000 units
(the "Units") of the Company at $0.22 per Unit. Each Unit will consist of one
(1) common share and one-half (1/2) of a common share purchase warrant
("Warrant") exercisable for 24 months at $0.35 per full Warrant. The
purchasers of Mr. Hazell's 5,000,000 common shares will also receive 2,500,000
Warrants (on a pro-rata basis) out of the Units subscribed for by Mr. Hazell.
Such Warrants will bear a standard resale legend, as will the common shares
forming part of the Units.
Aberdeen Gould Capital Markets Ltd. (the "Agent") of Toronto, Canada will
receive a commission of 7% cash of the gross amount raised in the private
placement and will also receive compensation units equal to 7% of the gross
Units sold - such compensation units having the same characteristics of the
Units.
The private placement by Mr. Hazell is exempt from the valuation and
minority shareholder approval requirements of Multilateral Instrument 61-101
("MI 61-101") by virtue of the exemptions contained in section 5.5(a) and
5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for
the securities of the Company to be issued to the insider does not exceed 25%
of its market capitalization.
The net proceeds of the financing will be used for working capital
purposes.

About Active Control Technology

Active Control Technology is a mining services company specializing in
advanced wireless productivity and safety systems. The company's MSHA-approved
ActiveMine system provides two-way wireless voice communication, real-time
tracking of personnel and assets, and high bandwidth data applications such as
streaming video and operational data from mining machinery, over a robust
wireless Wi-Fi network. Located in Burlington, Ontario, Canada, Active Control
trades publicly on the TSX Venture Exchange under the symbol ACT. For more
information, visit www.activecontrol.com.

Get more out of your mine.(TM)

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

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For further information: Steve Barrett, President & CEO, Active Control
Technology, Tel.: (905) 635-3130, Email: sbarrett@activecontrol.com; Media
inquiries for ACT: Don Hogarth, Tel.: (416) 565-8920, Email:
don@hogarthpr.com

Source: http://www.newswire.ca/en/releases/a...