Deal's proceeds allocated for development, general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 17 - FSI Energy Services Inc. said it plans a C$1.8 million non-brokered private placement of stock.
The company will sell 4 million common shares at C$0.45 per share. The price per share is a 1,185.71% premium to C$0.035, the Sept. 16 closing share price.
The deal is expected to settle on Oct. 15.
Proceeds will be used to fund development expenditures and for general corporate purposes.
FSI is a Calgary, Alta.-based manufacturing and service company specializing in customized filtration, filtration-related technologies and Brine Plants for the international and domestic energy and chemical industries.
| Issuer: | FSI Energy Services Inc.
|
| Issue: | Common shares
|
| Amount: | C$1.8 million
|
| Shares: | 4 million
|
| Price: | C$0.45
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 17
|
| Settlement date: | Oct. 15
|
| Stock symbol: | TSX Venture: FSI
|
| Stock price: | C$0.035 at close Sept. 16
|
| Market capitalization: | C$758,850
|
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