Business
Resin Systems completes $9.8 million equity financing
Resin Systems completes $9.8 million equity financing.
About this update from Real Estate Split Corp Class A
[{"type":"text","content":"\n\n\n\n\nEDMONTON, June 29 /CNW/ - Resin Systems Inc. (\"RS\") (RS - TSX / RSSYF -\nOTCBB), a composite products innovation company, announced today the closing\nof its previously announced marketed private placement equity financing. At\nclosing, a total of 5,600,980 units (the \"Units\") of RS were issued at a price\nof $1.75 per Unit for gross proceeds of $9.8 million. Each Unit consisted of\none common share (\"Common Share\") and one-half of one common share purchase\nwarrant of RS, each whole warrant entitling the holder thereof to acquire one\nCommon Share at an exercise price of $2.25 per share until December 28, 2007.\nRS intends to use the net proceeds of the offering to fund order\nfulfillment of its RStandard(TM) modular composite utility poles, the\ncommercialization and further development of its Version(TM) resins and\nrelated products, and for general working capital purposes.\nCIBC World Markets Inc. and Kingsdale Capital Markets Inc. (the \"Agents\")\nacted as RS's agents in connection with the private placement. As part of the\nconsideration for their services, the Agents were issued broker warrants to\npurchase an aggregate of 280,049 Units at an exercise price of $1.85 per Unit\nuntil December 28, 2007.\nAll of the Common Shares, warrants and broker warrants issued by RS\npursuant to the private placement are subject to a hold period until October\n29, 2006.\n\nAbout RS\n\nRS is a composite product innovator. RS engineers advanced composite\nproducts for large-scale industrial markets. These products replace products\nwhich historically have been made using conventional building blocks of wood,\nconcrete and steel. The foundation of RS is continuous innovation, product\ndevelopment and 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 brought to market the award winning\nRStandard(TM) modular composite transmission and distribution structure and is\nin various stages of development with other composite products. For the latest\non RS's developments, click on \"Latest News\" on www.grouprsi.com.\n\n\"Version\" and \"RStandard\" are tradema...