Company sells 2 million units of one share and a half-share warrant
By Devika Patel
Knoxville, Tenn., Sept. 27 - Kelso Technologies Inc. said it increased a private placement of units to $1.2 million from $900,000. The deal priced Aug. 30.
The company will now sell 2 million units of one common share and a half-share warrant at $0.60 per unit. Each whole warrant is exercisable at $0.80 for two years. 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 stakeholders worldwide.
| Issuer: | Kelso Technologies Inc.
|
| Issue: | Units of one common share and a half-share warrant
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| Amount: | $1.2 million
|
| Units: | 2 million
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| Price: | $0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | $0.80
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| Pricing date: | Aug. 30
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| Upsized: | Sept. 27
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| Stock symbol: | OTCBB: KEOSF
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| Stock price: | $0.65 at close Aug. 29
|
| Market capitalization: | $22.56 million
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