Funds build production capacity for Klincher Manway Securement System
By Devika Patel
Knoxville, Tenn., July 11 - Kelso Technologies Inc. said it arranged a C$1 million private placement of units.
The company will sell 2 million units of one common share and a half-share warrant at C$0.50 per unit. Each whole warrant is exercisable at C$0.70 for two years. The strike price is a 22.81% premium to the July 8 closing share price of C$0.57.
Settlement is expected July 22.
Proceeds have been allocated to build production capacity for the company's new Klincher Manway Securement System in Bonham, Texas, for listing the company on the OTCQX exchange in the United States and for general working capital.
The Vancouver, B.C., company designs technologies aimed at the safe containment of hazardous materials in transportation systems.
| Issuer: | Kelso Technologies Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 2 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
| Pricing date: | July 11
|
| Settlement date: | July 22
|
| Stock symbol: | TSX Venture: KLS
|
| Stock price: | C$0.57 at close July 8
|
| Market capitalization: | C$17.75 million
|
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