ESTec Systems Announces Private Placement

ESTec Systems has negotiated a $189,000 cash private placement from Allan R. Nelson Engineering Ltd. (ARN). ARN shall receive a total of 1,050,000 shares at a price of $0.18 per share plus 1,050,000 warrants exercisable at $0.30 per share for a period of two years. Allan R. Nelson Engineering is the majority shareholder of ESTec Systems Corp. and a control person.

The funds will be used by ESTec to fund the completion of our prototype Top Drive, and to purchase additional parts towards building additional units.