NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, BC. March 27, 2015, Smartcool Systems Inc. (TSX-V: SSC) is pleased to announce that it has reached a tentative agreement with thirteen (13) debenture holders to refinance the bulk of Smartcool’s 2010 secured debentures. These secured debentures, which expired March 1, 2015 and which, in the aggregate, represent total debt of $250,000 (originally $600,000), will be replaced by new, unsecured debentures. These new debentures will bear interest at 12% payable monthly, with 50% of the principal amount to be repaid on September 30, 2015 and the balance to be paid at maturity on March 31, 2016. In addition, the Company has agreed to provide warrants to each debenture holder (one warrant for each dollar of principal outstanding at time of re-financing). These non-transferable warrants will entitle the holder to purchase one common share of the Company for an exercise price of $0.06 until they expire on March 31, 2016.

In addition to the refinance of its debentures, the Company also wishes to announce that it will increase the size of the private placement offering originally announced on February 24, 2015. The Company originally announced that it intended to raise up to $500,000 through the sale of 10,000,000 units; the Company has decided to increase the size of the offering to $600,000 through the sale of 12,000,000 units. All of the other terms of the offering announced by the Company on February 24, 2015, remain the same.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the debentures, shares or warrants in the United States. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Smartcool
Smartcool Systems Inc. (TSX-V: SSC) provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3 and ESM are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by 15% to 20%, giving customers a return on investment in as little as 12 months.

Further information on the Company is available at www.sedar.com or at the Company’s website, www.smartcool.net.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Investor Inquiries

Mike Kordysz
Tel: +1 604 904 8632
mike.kordysz@smartcool.net

TSX-V: SSC
OTC: SSCFF
Frankfurt: R3W

Latest Press Releases

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