ESI Announces a $500,000 Private Placement
27 März 2014 - 7:00PM
Marketwired
ESI Announces a $500,000 Private Placement
VICTORIA, BRITISH COLUMBIA--(Marketwired - Mar 27, 2014) - E. S.
I. Environmental Sensors Inc. ("ESI" or the "Company"),
(TSX-VENTURE:ESV) is pleased to announce a non-brokered private
placement of up to 10,000,000 units ("Units") at $0.05 per Unit to
raise gross proceeds of up to CAD$500,000. Each Unit will consist
of one common share and one common share purchase warrant (a
"Warrant"). Each Warrant will be exercisable into an additional
common share for a period of three years from the closing date. The
Warrants will be exercisable at a price of $0.10 for the first year
following the closing of the transaction, $0.15 for the second year
following closing, and $0.20 for the third year following
closing.
The Private Placement is subject to TSX Venture Exchange
("Exchange") acceptance. The proceeds from this financing will be
used for general working capital purposes and to fund the initial
stages of the recently announced Flo·Point™ development program as
announced in the Company's press release on March 13, 2014. Subject
to Exchange approval, the Company will pay finders' fees in
connection with the private placement.
About ESI
ESI is a leading manufacturer of patented and proprietary
solutions for environments where understanding the presence,
movement, and/or amount of water are important. Major market
sectors include: Agriculture, Golf and Turf, Scientific Research,
Civil Engineering and Crude Oil. ESI solutions have been
successfully introduced into more than 40 countries to enable
customers to optimize their operations by monitoring the presence
and movement of water, managing irrigation systems, and monitoring
the integrity of landfill covers. Most recently, the Flo·Point™
instrument has been introduced to the Oil industry to measure the
volumetric presence of water pumped during crude oil extraction for
characterization and optimization of the process. ESI
differentiates itself by translating the best technology and
science available into practical, easy to use solutions. Irrigation
managers, Reservoir Engineers, and Scientists have adopted ESI's
products for their accuracy, ease of use, repeatability, and
ability to operate in challenging environments. ESI is publicly
traded on the TSX Venture Exchange under the symbol "ESV". Further
information about ESI may be obtained through the Company's website
at www.esisensors.com.
On behalf of the Company:
Bernard Beauchesne, Chief Operating Officer
THE TSX-VENTURE
EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
E.S.I. Environmental Sensors Inc.Investor Relations:2071C
Malaview Avenue WestSidney, BC V8L 5X6250.655.3211 or
1-800.799.6324investor.relations@esica.comE.S.I. Environmental
Sensors Inc.Media Contact:Bernard Beauchesne250.655.3211 or
1-800.799.6324bbeauchesne@esica.comwww.esica.com
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