CRS Electronics Inc. (TSXV:LED) announced a non-brokered private placement of up to 13,400,000 units at a price of CAD 0.15 per unit for gross proceeds of CAD 2,010,000 on July 8, 2014. Each unit consists of one common share of the company and one warrant. Each warrant entitles the holder to purchase one common share of the company at a price of CAD 0.20 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. Closing of the transaction 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. Canaccord Genuity Corp. will assist with the transaction. Canaccord Genuity Corp. 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 under the transaction. Each compensation option entitles to purchase one common share of the company at a price of CAD 0.15 per compensation option until 24 months after the closing date. All securities issued pursuant to this Offering are subject to a four month hold period from the closing date.

The transaction was cancelled as on July 9, 2014.