By Sheri Kasprzak
Atlanta, April 14 - Flexible Solutions International Inc. has completed a private placement for C$3,375,000.
The company sold 900,000 units at C$3.75 each to a group of investment funds.
The units include one share and one warrant. The warrants allow for an additional share at C$4.50 each.
Based in Victoria, B.C., Flexible Solutions develops and manufactures a water evaporation retardant. The proceeds will be used to retire debt remaining from the company's acquisition of its NanoChem division in June 2004. The remainder will be used for working capital.
| Issuer: | Flexible Solutions International Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$3,375,000
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| Units: | 900,000
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| Price: | C$3.75
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| Warrants: | One warrant per unit
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| Warrant strike price: | C$4.50
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| Settlement date: | April 14
|
| Stock price: | C$4.30 at close April 13
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