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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2012) - Functional Technologies Corp. (TSX VENTURE:FEB)(OTCQX:FEBTF) (the "Company") reports that the second tranche of the non-brokered private placement announced in its news release of July 16, 2012 has closed, raising gross proceeds of approximately $1.9 million through the issuance of 9.6 million 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. |
