Resin Systems Completes $10 Million Equity Offering

About this update from Real Estate Split Corp Class A

[{"type":"text","content":"\n\n\n\nCALGARY, July 11 /CNW/ - Resin Systems Inc. ("RS") (RS - TSX / RSSYF -\nOTCBB), a composite products innovation company, today announced the closing\nof its previously announced private placement. At closing, 9,615,385 common\nshares (the "Common Shares") of RS were issued at a price of $1.04 per share\nfor gross proceeds of $10.0 million. A director of RS acquired 2,672,000\nCommon Shares pursuant to the private placement.\n\n\nRS intends to use the proceeds of the offering for general corporate\npurposes.\n\n\nAll of the Common Shares issued by RS pursuant to the private placement\nare subject to a hold period until November 12, 2008.\n\n\nAbout RS\n\n\nRS is a technology innovator that develops advanced composite material\nproducts for infrastructure markets. These advanced material products are not\nonly structurally superior to products made with traditional building blocks\nof wood, steel or concrete, they are also lighter, more durable and\nlonger-lasting. The company has entered the global market with its award\nwinning utility poles and conveyor roller tubes as its two initial products,\nand continues to identify a growing list of additional innovative products. RS\ndesigns, engineers and develops its products in-house, while outsourcing where\napplicable, its manufacturing and distribution.\n\n\nFor the latest on RS's developments, go to the company's website at\nwww.grouprsi.com.\n\n\n"RStandard" is a trademark of RS.\n\n\nThis news release contains forward-looking statements. These\nforward-looking statements are not guarantees of future performance and undue\nreliance should not be placed on them. Actual results may differ materially as\na result of any number of factors and uncertainties, many of which factors are\nbeyond RS's control. Many of these risks and uncertainties are described in\nRS's 2007 annual information form and other documents RS files with the\nCanadian securities authorities and the United States Securities and Exchange\nCommission. The forward-looking statements are made as of the date hereof and\nRS assumes no obligation to update or revise such statements to reflect new\nevents or circumstances except as required by applicable securities laws.\n\n\n","length":2307,"tagName":"div"}]

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