Company sells 1,995,000 units of one share and a half-share warrant
By Devika Patel
Knoxville, Tenn., Sept. 27 - Kelso Technologies Inc. said it settled a C$1.2 million private placement of units to $1.2 million from $900,000. The deal priced for $900,000 on Aug. 30 and was increased to $1.2 million on Sept. 27.
The company sold 1,995,000 units of one common share and a half-share warrant at $0.60 per unit. Each whole warrant is exercisable at $0.80 until Sept. 28, 2014. The strike price is a 23.08% premium to the Aug. 29 closing share price of $0.65.
Proceeds will be used as working capital.
The Vancouver, B.C., company designs technologies aimed at the safe containment of hazardous materials in transportation systems with the primary goal of generating above average benefits for the environment, society, customers, industry work forces and our stakeholders worldwide.
| Issuer: | Kelso Technologies Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $1,197,000
|
| Units: | 1,995,000
|
| Price: | $0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Sept. 28, 2014
|
| Warrant strike price: | $0.80
|
| Pricing date: | Aug. 30
|
| Upsized: | Sept. 27
|
| Settlement date: | Oct. 1
|
| Stock symbol: | OTCBB: KEOSF
|
| Stock price: | $0.65 at close Aug. 29
|
| Market capitalization: | $22.47 million
|
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