EDMONTON, Alberta, Aug. 18 /CNW/ -- Resin Systems Inc.
(TSX Venture: RS / OTC Bulletin Board: RSSYF), a composite material products
technology company ("RS"), announced today that it has issued 2,290,964 common
shares of RS pursuant to the exercise of common share purchase warrants of RS
at an exercise price of $1.65 per share for total gross proceeds of
$3,780,091. The common share purchase warrants of RS were originally issued
pursuant to a private placement of units of RS completed on February 14, 2005.
About RS
RS operates in the composite material products marketplace and provides
engineered solutions that are developed with its proprietary input materials,
equipment and processes. The foundation of these solutions is based on the
company's patented polyurethane Version(TM) resin system. RS is continuously
building on this foundation through additional patent pending and trade secret
knowledge. The company's engineered solutions are developed and implemented in
three distinct technology platforms, one of which is filament winding, which
has resulted in the development and production of the RStandard(TM) modular
composite utility pole. RS has begun the commercialization of its
RStandard(TM) pole for sale to power utility companies both domestically and
internationally. For the latest on the company's developments, click on
'Latest News' on http://www.grouprsi.com.
"Version" and "RStandard" are trademarks of Resin Systems Inc.
This news release contains forward-looking statements. The forward-
looking statements are not guarantees of future performance and undue reliance
should not be placed on them. Actual results may differ materially as a result
of any number of factors and uncertainties, many of which factors are beyond
RS's control. Many of these risks and uncertainties are described in RS's
revised annual information form dated June 29, 2005, RS management's
discussion and analysis and other documents RS files with the Canadian
securities authorities.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
This release is available on the KCSA Public Relations Worldwide Web site
at http://www.kcsa.com.
For more information please contact:
Greg Pendura Jennifer Handshew / Yin Chang
President and Chief Executive Officer KCSA Worldwide
Resin Systems Inc. Public Relations
Ph: (780) 482-1953 Ph: (212) 896-1272 /
Fax: (780) 452-8755 (212) 896-1228
Email: gregp@grouprsi.com Email: jhandshew@kcsa.com /
http://www.grouprsi.com ychang@kcsa.com
http://www.kcsa.com