By Sheri Kasprzak
New York, May 10 - H2O Innovation (2000) Inc. has negotiated a C$10 million private placement.
The offering includes up to 11,111,111 units at C$0.90 each.
The units consist of one share and one warrant. Each warrant is exercisable at C$1.25 for two years.
Amsterdams Effectenkantoor BV is the placement agent.
The proceeds will be used for the company's acquisition of Membrane Systems Corp. and debt repayment.
Under the terms of the acquisition, H2O will buy all of the assets of Membrane Systems for US$3.1 million.
Quebec City-based H2O processes drinking water with a portfolio of membrane technologies used by the municipal and industrial sectors.
| Issuer: | H2O Innovation (2000) Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$10 million
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| Units: | 11,111,111
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| Price: | C$0.90
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.25
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| Placement agent: | Amsterdams Effectenkantoor BV
|
| Pricing date: | May 10
|
| Stock symbol: | TSX Venture: HEO
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| Stock price: | C$1.30 at close May 10
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