SAINT-ÉPHREM-DE-BEAUCE, QC, March 25, 2014 /CNW Telbec/ - Sigma Industries Inc. ("Sigma" or the "Company") (TSXV: SSG) announces that it intends to proceed, as soon as possible, with other private placements with Investissement Québec and its shareholders for a maximum amount of $1,925,000 to be added to the Company's working capital to support daily operations and the orderly transfer of U.S. operations to Quebec announced on March 17, 2014.

In December 2013, Investissement Quebec underwrote a loan guarantee of $800,000 (the "Loan") for an eight-year (8-year) term, bearing interest at an annual rate of 10%, payable quarterly, and convertible at any time over the five (5) years following disbursement, in whole or in part, into Sigma common shares, at a price of $0.05 per share, for an initial amount of $500,000 during the first year of the Loan, and $0.10 per share for the balance over the five (5) years following disbursement. The terms and conditions of this Loan specify that Investissement Québec can now convert a portion thereof, thus raising its Sigma stock holdings to no more than 19.9% of issued and outstanding shares, on an undiluted basis. Investissement Québec is Sigma's main secured creditor, after the National Bank of Canada, and currently holds 1,000,000 common shares of the Company, or 8.53% of issued and outstanding shares.

Subject to compliance with certain conditions, including an additional capital outlay by Sigma shareholders in the form of convertible debentures not to exceed $475,000 (the "Convertible debentures"), Investissement Québec is willing to grant Sigma a second loan of no more than $1,450,000 with the same term as that of the loan, bearing interest at an annual rate of 10%, payable quarterly and convertible at any time over the five (5) years following disbursement, in whole or in part, into Sigma common shares, at $0.10 per share, until the maximum number of shares held by Investissement Québec equates to 42.6%  of issued and outstanding Sigma shares, on an entirely diluted basis (the "Convertible loan").

These private placements are subject to approvals by the Company's shareholders and by the TSX Venture Exchange. Conditions related to these approvals are detailed in the Company's Proxy Solicitation Circular, which has been sent to shareholders who had made the request and which is also available on the SEDAR database (www.sedar.com).

ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SSG), a manufacturing company specializing in the production of composite components, has four operating subsidiaries and employs 400 people. The Company is active in the heavy-duty truck, coach, transit, machinery and wind energy markets. Sigma sells its products to original equipment manufacturers and distributors in the United States, Canada and Europe.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE SIGMA INDUSTRIES INC.

Copyright 2014 Canada NewsWire

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