CRS Electronics Announces Proposed $2 Million Private Placement

Marketwired

TORONTO, ONTARIO--(Marketwired - July 15, 2014) - CRS Electronics Inc. ("CRS" or the "Company") (TSX VENTURE:LED), a developer and manufacturer of LED lighting products, is pleased to announce that it intends to undertake a non-brokered private placement of up to 11,200,000 units of the Company (the "Units") at an offering price of $0.18 per Unit for gross proceeds to the Company of up to approximately $2,016,000 (the "Offering"). Canaccord Genuity Corp. ("Canaccord") is assisting with the Offering and is entitled to receive a cash commission equal to 6% of the total proceeds raised under the Offering and compensation options equal to 6% of the total number of Units sold under the Offering. Each compensation option entitles Canaccord to purchase one common share of the Company at a price of $0.18 per compensation option until 24 months after the closing date of the Offering.

Each Unit will be comprised of one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.18 for a period of 24 months following the closing date of the Offering. If the closing price of the common shares of the Company on the TSX Venture Exchange is $0.30 or above for 20 consecutive trading days, the Company will have the right to accelerate the expiry date of the warrants upon notice to the holders.

The net proceeds from the Offering will be used for general corporate and working capital purposes.

Closing of the Offering is anticipated to occur on or about July 28, 2014 and will be conditional upon, among other things, the receipt of all necessary regulatory approvals. All securities issued pursuant to this Offering are subject to a four month hold period from the closing date.

About CRS

CRS Electronics Inc. (TSX VENTURE:LED), a Lighting Facts partner, is a leader in the emerging, rapidly-growing market of high efficiency light-emitting-diode ("LED"), or, solid state lighting ("SSL"). The principal activities of CRS Electronics include the development, manufacture and sale, primarily in North America, of indoor lighting products such as LED replacement lamps, exterior LED warning lights for school buses, child safety systems for school buses, LED architectural lighting fixtures, and contract manufacturing of LED circuit boards. As an innovator of LED solutions since 1998, CRS Electronics continues to expand its product portfolio and market presence with business partners and customers, and under its own product brands, which include CRS Electronics and Lumenova™.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws which can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other CRS filings, and include availability of sufficient working capital for development and operations, availability of a qualified work force, availability of manufacturing equipment and the ultimate ability execute its business plan on economically favourable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other CRS filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by law, CRS does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.

Contact:
CRS Electronics
Investor Relations
Matthew Groen
Chief Financial Officer
mgroen@crselectronics.com
www.crselectronics.com

CRS Electronics
Media
media@lumenovaled.com
www.lumenovaled.com

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