By Sheri Kasprzak
New York, Oct. 7 - HydraLogic Systems Inc. said it has priced a C$4 million private placement.
The company intends to sell up to 8 million units at C$0.50 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$0.70 each for two years.
Kingsdale Capital Markets Inc. is the placement agent.
Proceeds will be used for the company's acquisition of Sager Industries Ltd. and for general corporate purposes.
Based in Barrie, Ont., HydraLogic develops technologies that replace harmful pollutants with non-toxic organic solutions.
| Issuer: | HydraLogic Systems Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$4 million (maximum)
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| Units: | 8 million (maximum)
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| Price: | C$0.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.70
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| Placement agent: | Kingsdale Capital Markets Inc.
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| Pricing date: | Oct. 7
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| Stock price: | C$0.51 at close Oct. 6
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