Business
Resin Systems completes $5.0 million equity financing
Resin Systems completes $5.0 million equity financing.
About this update from Real Estate Split Corp Class A
[{"type":"text","content":"\n\n\n\n\nEDMONTON, Nov. 6 /CNW/ - Resin Systems Inc. (\"RS\") (RS - TSX / RSSYF -\nOTCBB), a composite products innovation company, announced today the closing\nof its previously announced private placement equity financing. At closing, a\ntotal of 3,378,378 common shares of RS were issued at a price of $1.48 per\nshare for gross proceeds of $5.0 million.\nRS intends to use the net proceeds of the offering to fund order\nfulfillment of its RStandard(TM) modular composite utility poles and for\ngeneral working capital purposes.\nKingsdale Capital Markets Inc. (the \"Agent\") acted as RS's agent in\nconnection with the private placement. As part of the consideration for its\nservices, the Agent was issued broker warrants to purchase an aggregate of\n168,919 common shares of RS at an exercise price of $1.70 per share until\nNovember 6, 2007.\nAll of the common shares and broker warrants issued by RS pursuant to the\nprivate placement are subject to a four month hold period.\n\nAbout RS\n\nRS is a composite product innovator. RS develops advanced composite\nproducts for large-scale industrial markets. These products replace products\nwhich traditionally have been made using conventional building blocks of wood,\nconcrete and steel. The foundation of RS is continuous innovation and product\ndevelopment utilizing its proprietary Version(TM) polyurethane resin system.\nRS's business strategy is to continually seek out future business\nopportunities in its realm of expertise while applying a focused, disciplined\napproach to commercializing those opportunities that pass its business tests.\nTo date, RS has successfully developed and is bringing to market the award\nwinning RStandard(TM) modular composite transmission and distribution\nstructure and is in various stages of development of additional new composite\nproducts. For the latest on RS's developments, click on \"Latest News\" on\nwww.grouprsi.com.\n\"Version\", \"RStandard\" and \"VRoll\" are trademarks of RS.\n\nThis news release contains forward-looking statements as it pertains to\nthe expenditure of the net proceeds of the offering by RS. The forward-looking\nstatements as to the expenditure of the net proceeds of the offering are not\nguarantees of how the net proceeds will be spent and undue reliance should not\nbe placed on them. The actual expenditure of the net proceeds...