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| Home : ESI Increases Private Placement to $650,000 and Announces Discussions on the Flo·Point(TM) Development Program |
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Oct 28
2013 |
ESI Increases Private Placement to $650,000 and Announces Discussions on the Flo·Point(TM) Development Program |
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VICTORIA, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2013) - E. S. I. Environmental Sensors Inc. ("ESI" or the "Company") (TSX VENTURE:ESV) is pleased to announce that, in addition to the previous announcement of a private placement for gross proceeds of up to $350,000, the Company is now increasing the total available under the private placement up to $650,000. It is likely that the placement will close in tranches. The total non-brokered private placement will now be up to 13,000,000 units ("Units") at $0.05 per Unit to raise gross proceeds of up to CAD$650,000. Each Unit will consist of one common share and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable into an additional common share for a period of three years from the closing date. The Warrants will be exercisable at a price of $0.10 for the first year following the closing of the transaction, $0.15 for the second year following closing, and $0.20 for the third year following closing. As mentioned above, it is anticipated that there will be more than one closing date. |
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| Source:http://www.marketwired.com/mw/release.do?id=1845358&sourceType=3 |
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