CRS Electronics Inc. (TSXV:LED) announced a non-brokered private placement of up to 11,200,000 units at a price of CAD 0.18 per unit for gross proceeds up to CAD 2,016,000 on July 15, 2014. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at a price of CAD 0.18 for a period of 24 months following the closing date.

If the closing price of the common shares of the company on the TSX Venture Exchange is CAD 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. Canaccord Genuity Corp. is assisting with the transaction and is entitled to receive a cash commission equal to 6% of the total proceeds raised and compensation options equal to 6% of the total number of units sold in the transaction.

Each compensation option entitles the agent to purchase one common share of the company at a price of CAD 0.18 per compensation option until 24 months after the closing date of the transaction. The company expects to close the transaction 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 transaction are subject to a four month hold period from the closing date.