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Provider: Reuters Investment Profile

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H2O Innovation Inc announces completion of acquisition and closing of private placement

Thursday, 5 Dec 2013 08:42am EST 

H2O Innovation Inc:Says completion of the previously announced acquisition of all of the issued and outstanding shares of Common Stock of Piedmont Pacific Corporation.Says for a total consideration of about C$4.0 million ($ 3.8 million).Says that it has closed the previously announced bought deal private placement and concurrent additional non-brokered private placement of common shares of the company at a price of C$0.23 per Common Share for total gross proceeds of about C$8 million.Says bought deal was conducted by GMP Securities L.P.Uses a portion of the net proceeds of the Offerings to finance the Acquisition.Says remaining portion of the net proceeds of the Offerings will be used for working capital purposes, as necessary to support the up-coming growth in the company's systems sales backlog. 

Company Quote

-0.0050 -1.49%
1:28pm EST