SMARTCOOL announces closing of debenture offering

VANCOUVER, March 22 /PRNewswire-FirstCall/ - SMARTCOOL SYSTEMS INC. (the "Company") (SSC-TSX:V) is pleased to announce the closing of the second tranche of its debenture offering (the "Debenture Offering") announced in a news release dated January 13, 2010. Pursuant to the Debenture Offering, the Company offered units (the "Units") at a price of $5,000 per Unit for gross proceeds of $85,000. Each Unit is comprised of a non-convertible Debenture in the principal amount of $5,000 plus 8,600 warrants (the "Warrants"). Each Debenture matures on that date which is 3 years from the date of issuance. Each Warrant will entitle the holder to purchase one Common Share of the Company for a period of 3 years from the date of issuance at a price of $0.50 per Common Share. In the event that the Common Shares trade at an average price of greater than $0.80 per share for a period of not less than 60 consecutive days, the Company may give notice of its intention to accelerate the exercise period of the Warrants, such that the exercise period will expire on the third date after the date of such notice.

A finder's fees of $8,500 in cash was paid in accordance with the policies of the TSX Venture Exchange.

All securities issued pursuant to the Debenture Offering are subject to a hold period expiring on July 20, 2010.

For further information we invite you to visit us at www.smartcool.net.

    ON BEHALF OF THE BOARD

    Signed "George Burnes"
    ----------------------
    George Burnes, President

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 SmartCool Systems Inc.