By Sheri Kasprzak
Atlanta, Feb. 4 - Resin Systems Inc. said it will raise up to C$7.5 million in a private placement.
The company will sell a maximum of 6,521,740 units at C$1.15 each. The units consist of one share and one half-share warrant.
The whole warrants allow for an additional share at C$1.65 each for six months and C$2 each for one year.
Kingsdale Capital Markets Inc. is the placement agent in the offering.
Resin, based in Edmonton, Alta., is a composite materials technology company. The proceeds will be used to fund production equipment to manufacture modular composite utility poles and to commercialize and develop its resins and other related products. The remainder will be used for general working capital.
Issuer: | Resin Systems Inc.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$7.5 million
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Units: | 6,521,740
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Price: | C$1.15
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One and one-half years
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Warrant strike price: | C$1.65 for six months; C$2 for one year
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Placement agent: | Kingsdale Capital Markets Inc.
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Pricing date: | Feb. 4
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Stock price: | C$1.18 at close Feb. 4
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