By Laura Lutz
Des Moines, May 3 - Flexible Solutions International Inc. closed a private placement of units for C$3,042,455.
The company sold 936,140 units to institutional investors at C$3.25 per unit.
Each unit consists of one share and one half-share warrant. Each whole warrant will be exercisable at C$4.50 for three years.
Proceeds will be used to build a biomass conversion facility.
Flexible Solutions is a Victoria, B.C.-based developer and manufacturer of water and energy conservation technologies.
| Issuer: | Flexible Solutions International Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3,042,455
|
| Units: | 936,140
|
| Price: | C$3.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$4.50
|
| Settlement date: | May 3
|
| Stock symbol: | Amex: FSI
|
| Stock price: | $3.35 at close May 3
|
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