By Laura Lutz
Des Moines, Aug. 20 - HydraLogic Systems Inc. settled a private placement of units for C$1,612,500.
The placement consisted of 5.375 million units at C$0.30 apiece.
Each unit consisted of one common share, one half-share class G warrant and one half-share class H warrant.
Each whole class G warrant is exercisable at C$0.50 for two years, and each whole class H warrant is exercisable at C$0.80 for the same period.
Capstone Investments acted as agent.
Proceeds will be used to partially repay a December 2006 bridge loan and for growth opportunities for the company's Bug Defence division.
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, one half-share class G warrant and one half-share class H warrant
|
| Amount: | C$1,612,500
|
| Units: | 5.375 million
|
| Price: | C$0.30
|
| Warrants: | One half-share class G warrant and one half-share class H warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50 for class G; C$0.80 for class H
|
| Agent: | Capstone Investments
|
| Settlement date: | Aug. 20
|
| Stock symbol: | TSX Venture: HLS
|
| Stock price: | C$0.245 at close Aug. 17
|
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