Allen-Vanguard Corporation Raises over $100 Million through Private Placement

August 15, 2007

Allen-Vanguard Corporation (TSX:VRS), a corporation that develops and markets technologies, tools and training for defeating and minimizing the effects of hazardous devices and materials, whether chemical, biological, radiological, nuclear or explosive, completed a private placement offering of 14,650,000 subscription receipts for total gross proceeds of $100,352,500. The private placement was completed by a syndicate of agents led by Paradigm Capital Inc., and including Versant Partners Inc. and Genuity Capital Markets. Each of the subscription receipts was automatically exercised for special warrants upon the completion by Allen-Vanguard of the acquisition of Med-Eng Systems. Each special warrant was automatically exercised for a common share when the company filed a prospectus on September 2, 2007, qualifying the common shares issued upon the exercise of the special warrants. Wildeboer Dellelce LLP acted for the Agents with a team that included Derek Sigel, Al Wiens and Michael Antonik (corporate securities)

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