By Laura Lutz
Des Moines, May 15 - HydraLogic Systems Inc. settled a private placement of units for C$443,100 and announced plans for a C$1.5 million private placement on the same terms.
In the completed offering, the company sold 1.266 million units of one share and one half-share warrant at C$0.35 per unit. Each whole warrant will be exercisable at C$0.70 for two years.
Kingsdale Capital Markets Inc. acted as agent for that placement.
The new private placement will be conducted through Kingsdale and Capstone Investments Inc.
Barrie, Ont.-based HydraLogic produces technologies for the pest control, agriculture, solid and liquid waste, and water conditioning markets.
| Issuer: | HydraLogic Systems Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
| Agents: | Kingsdale Capital Markets Inc., Capstone Investments Inc.
|
| Pricing date: | May 15
|
| Stock symbol: | TSX Venture: HLS
|
| Stock price: | C$0.40 at close May 15
|
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