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
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.