Business
RS Technologies Announces Financing and Filing of Preliminary Base Shelf Prospectus
RS Technologies Announces Financing and Filing of Preliminary Base Shelf Prospectus
About this update from Real Estate Split Corp Class A
[{"type":"text","content":"\n\n\n\n Oct. 22, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES/\n\n\nCALGARY, Oct. 22 /CNW/ - RS Technologies Inc. ("RS") (RS - TSX), a\n technology innovator and manufacturer of advanced composite products\n for infrastructure markets, today announced that it intends to complete\n a financing by way of private placement of 240 units ("Units") of RS at\n a price of $25,000 per Unit for total gross proceeds of $6 million.\n Each Unit will consist of a $27,777 principal amount of a 10 percent\n secured promissory note of RS (the "Note") and warrants ("Warrants") to\n purchase 3,981,656 common shares of RS for a period of five years from\n the initial date of issuance at an exercise price of $0.01 per share.\n Assuming the private placement is fully subscribed, RS will issue\n warrants to purchase an aggregate of 955,597,440 common shares\n representing approximately 30 percent of the issued and outstanding\n common shares of RS assuming the Warrants are exercised. RS intends to\n issue $3.1 million of the Units to arm's length subscribers of RS and\n issue $2.9 million of the Units to directors and officers of RS, of\n which $2.9 million has already been advanced to and will be expended by\n RS by the end of October 2010.\n\n\nCompletion of the private placement of the Warrants comprising part of\n the Units is subject to certain conditions incl...