By Sheri Kasprzak
New York, May 31 - HydraLogic Systems Inc. has concluded its previously announced PIPE for C$1,836,000.
The company sold 2,448,000 shares at C$0.75 each.
The deal priced April 24 as a C$1,875,000 offering of 2.5 million shares.
Kingsdale Capital Markets Inc. is the placement agent.
The proceeds will be used for the acquisition of Houston-based Bayou City Mosquito Control Ltd. The remainder will be used for general corporate purposes.
In other news, HydraLogic said it has extended the expiry on its class C warrants to Nov. 30, 2006 from June 30, 2006. The warrants are exercisable at C$1.25 each.
Toronto-based HydraLogic develops and commercializes nontoxic, organic chemicals used in waste management, pest control and agriculture.
| Issuer: | HydraLogic Systems Inc.
|
| Issue: | Stock
|
| Amount: | C$1,836,000
|
| Shares: | 2,448,000
|
| Price: | C$0.75
|
| Warrants: | No
|
| Placement agent: | Kingsdale Capital Markets Inc.
|
| Pricing date: | April 24
|
| Settlement date: | May 31
|
| Stock symbol: | TSX Venture: HLS
|
| Stock price: | C$0.75 at close April 24
|
| Stock price: | C$0.79 at close May 30
|
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