CAESAREA, Israel, Dec. 11, 2012 (GLOBE NEWSWIRE) -- Elbit Vision Systems Ltd. (OTCBB:EVSNF), announces the closing on December 10, 2012, of a non-brokered private placement with Mr. Avi Gross. The Company issued and sold 5,263,158 ordinary shares to Mr. Gross at a price of $0.095 per ordinary share for gross proceeds of $500,000 and Mr. Gross provided a $300,000 convertible loan to the Company which may be converted in whole or in part at a price per share of $0.095, within 6 months of the closing date. Should the loan not be converted, the principal and interest (at LIBOR per annum) will be repayable over the following 12 months.
Elbit Vision Systems Announces Closing Of Private Placement
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