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CALGARY, ALBERTA--(Marketwire - May 19, 2011) - Innovative Wireline Solutions Inc. (the "Corporation") (TSX VENTURE:IWS) is pleased to announce that it plans to complete a non-brokered private placement of up to 24,000,000 units of the Corporation (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to $1,200,000 (the "Offering"). The Units will be comprised of one (1) common share and one (1) common share purchase warrant ("Warrant") of the Corporation. Each Warrant entitles the holder thereof to purchase one common share for $0.10 expiring 24 months from the date of the closing of the Offering. |
