|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 9, 2012) - Functional Technologies Corp. (TSX VENTURE:FEB)(OTCQX:FEBTF) (the "Company") reports that it has raised gross proceeds of $445,000 in an initial closing of the non-brokered private placement announced in its news release of July 16, 2012. The funds were raised through the issuance of 2,225,000 units at a price of $0.20 per unit. Each unit is comprised of one common share and one share purchase warrant. Each warrant is exercisable at a price of $0.30 for a period of two years, subject to an accelerated exercise provision. |
