Regional Reports / Canada

Smart Cool Announces Private Placement

VANCOUVER, British Columbia - Smart Cool Systems Inc. has arranged a non-brokered private placement of up to 2.5 million common shares at a price of $0.20 per share. Insiders of the company may participate in this private placement. Smart Cool may pay a finder's fee of up to 5 percent of the funds raised by the finder.

The proceeds of this private placement will be used for general working capital, inventory, and to pay the balance of the purchase price to Abbotly Technologies Inc. to acquire the exclusive rights to distribute the Energy Savings Module (ESM) in Canada, the United States, Mexico, and the Caribbean.

Smart Cool hopes to be in a position to close this private placement on or before May 1, 2006, subject to acceptance for filing by the TSX Venture Exchange. It believes that a short period to close would be advantageous.

Publication date: 04/24/2006

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