By Laura Lutz
Des Moines, June 14 - H2O Innovation (2000) Inc. closed a private placement of units for C$15,491,026.
The company sold 8,852,015 units of one share and one warrant at C$1.75 per unit. Each warrant will be exercisable at C$2.30 for two years.
Amsterdams Effectenkantoor BV, the lead investor, subscribed to 2.7 million units. Following the placement, Amsterdams Effectenkantoor controls up to 60.61% of the outstanding shares of H2O.
The 14 other investors include Fondaction; le Fonds de developpement de la CSN pour la cooperation et l'emploi; Sipar Inc.; Societe Innovatech Quebec et Chaudiere-Appalaches and John G. Booth, a director of the company.
Fondaction subscribed for 742,857 units. Fondaction now controls up to 12.05% of the company's outstanding shares.
Proceeds will be used for the company's planned acquisition of a U.S.-based wastewater equipment company and for working capital. Settlement of the placement does not depend on completion of the acquisition.
H2O is a drinking water production and processing company based in Quebec City.
| Issuer: | H2O Innovation (2000) Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$15,491,026
|
| Units: | 8,852,015
|
| Price: | C$1.75
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.30
|
| Investors: | Amsterdams Effectenkantoor BV (lead, for 2.7 million units), Fondaction (for 742,857 units), le Fonds de developpement de la CSN pour la cooperation et l'emploi; Sipar Inc.; Societe Innovatech Quebec et Chaudiere-Appalaches; John G. Booth
|
| Settlement date: | June 14
|
| Stock symbol: | TSX Venture: HEO
|
| Stock price: | C$1.70 at close June 13
|
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