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Gold/Mining/Energy : E.S.I. Environmental Sensors Inc. (V.ENV)
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To: Flea who wrote (14)11/10/1997 6:14:00 PM
From: Flea  Read Replies (1) of 22
 
ESI Environmental Sensors Inc -

$1m private placement arranged

ESI Environmental Sensors Inc
ENV
Shares issued 9870322
1997-11-07 close $0.96
Monday Nov 10 1997
Mr Arthur Johnson reports
The company has arranged a private placement of 1,000,000 special warrants at $1.00 for gross
proceeds of $1,000,000. The net proceeds will be used for marketing and promotion, research and
development, inventory build-up, and for general working capital.
Each special warrant will entitle a subscriber to acquire one unit consisting of one share and one warrant.
Each warrant will entitle the holder to purchase one additional share at $1.15 during the first year and at
$1.25 during the second year.
The company has agreed to issue broker compensation options entitling the agent to purchase up to
100,000 units for $1.00. The company has agreed to use its best efforts to qualify the distribution of
common shares and warrants issuable upon exercise of the special warrants by filing a prospectus and
obtaining receipts within 120 days of the closing date. If the company fails to secure a receipt for the
final prospectus in Ontario within 120 days, the holders will have the right to receive a total of 1.1 units
for no additional consideration. The company will receive $500,000 on the closing date and the balance
of the net proceeds upon issuance of a final receipt for the company's prospectus.
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