This release went on the wire today:
ESI ANNOUNCES BROKERED PRIVATE PLACEMENT
VICTORIA, B.C., April 14, 1998 - E.S.I. Environmental Sensors Inc. (the "Company" / "ESI") is pleased to announce that the Company has arranged, subject to regulatory approval, a private placement of 750,000 units at $0.80, for total proceeds of $600,000. Each unit consists of one share and one warrant to purchase one additional share, exercisable for two years at $1.00. Proceeds will be used for working capital and to finance the Company's marketing program. The private placement is being brokered by Brink Hudson & Lefever Ltd. and the commission payable is 8%, which will be paid by the issuance of additional units substantially the same as those described above.
Upon completion of the above brokered private placement, together with the previously announced private placements in March and April, the Company will have fulfilled its financing requirements for 1998.
E.S.I. Environmental Sensors Inc. is an established environmental technology company based in Victoria, British Columbia. Since 1973, the Company has been involved in the distribution, repair and calibration of environmental instruments. The Company's principal focus is on the development, manufacture and marketing of its MoistureúPoint„ line of instruments for the agricultural, forestry, mining and site remediation industries. ESI has 16 fully-trained distributors in Europe, Japan and the United States, and has systems in over 30 countries.
E.S.I. Environmental Sensors Inc. shares are listed on the Vancouver Stock Exchange under the symbol "ENV".
On behalf of the Board of Directors:
Paul Tutsch, Director
For More Information Please Contact:
Investor Relations
Douglas Horne or Jonathan Burke
Tel: (604) 488-1111 Fax: (604) 488-1145
Email: irinfo@istar.ca
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. |
