By Devika Patel
Knoxville, Tenn., Sept. 26 - HydraLogic Systems Inc. announced it completed a C$2.5 million private placement of units on Sept. 21.
The company sold 8,333,332 units at C$0.30 apiece. Each unit consists of one common share, one half class G share warrant and one half class H share warrant.
Each whole class G warrant is exercisable at C$0.50 for two years. Each whole class H warrant is exercisable at C$0.80 for two years.
Capstone Investments was the agent, and Barretto Securities Inc. was the finder. The companies received a combined commission of 5.5% in cash and 2.5% in units, which had the same terms and conditions as those in the offering.
All of the securities have a four-month hold period.
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 common share, one half class G share warrant and one half class H share warrant
|
| Amount: | C$2.5 million
|
| Units: | 8,333,332
|
| Price: | C$0.30
|
| Warrants: | Two half warrants per unit
|
| Warrant strike price: | C$0.50 for class G; C$0.80 for class H
|
| Warrant expiration: | Two years
|
| Agent: | Capstone Investments
|
| Finder: | Barretto Securities Inc.
|
| Fees: | 5.5% in cash and 2.5% in units
|
| Settlement date: | Sept. 21
|
| Stock symbol: | TSX Venture: HLS
|
| Stock price: | C$0.24 at close Sept. 21
|
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