Business
RS Technologies Completes Financing and Enters Into Committed Equity Facility Agreement
RS Technologies Completes Financing and Enters Into Committed Equity Facility Agreement
About this update from Real Estate Split Corp Class A
[{"type":"text","content":"\n\n\n\n Nov. 1, 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 \nIN THE UNITED STATES/\n\n\nCALGARY, Nov. 1 /CNW/ - RS Technologies Inc. ("RS") (RS - TSX), a\n technology innovator and manufacturer of advanced composite products\n for infrastructure markets, today announced the closing of its\n previously announced private placement and the entering into of a\n committed equity facility agreement with Haverstock Master Fund, Ltd.\n\n\nCompletion of Financing\n\n\nAt closing of the private placement, RS issued:\n\n\n\n\n\n\n\n(a) \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n124 units ("Units") to arm's length subscribers comprised of $3,444,348\n aggregate principal amount of 10 percent secured promissory notes of RS\n (the "Notes") and warrants ("Warrants") to purchase 493,725,344 common\n shares of RS until October 29, 2015 at an exercise price of $0.01 per\n share for gross proceeds of $3.1 million; and\n\n\n\n\n(b) \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n$3,222,132 aggregate principal amount of Notes (comprising part of 116\n Units) to directors and officers of RS and associates and affiliates\n thereof for gross proceeds of $2.9 million, which proceeds were\n previously advanced by the non-arm's length subscribers to RS. As\n disclosed in its news release dated October 22, 2010, RS will not issue\n the 461,872,096 Warrants comprising...