Monday, 26 February 2007

HydraLogic to Raise up to $8 million

HydraLogic Systems Inc. annouced today it has reached an agreement with Capstone Investments and Kingsdale Capital Markets Inc. to raise up to $8 million in a private placement financing, expected to close on or about March 30th, 2007. Units will consist of one common share with a half-warrant (expires two years from the date of issue).

Investors interested in participating in the financing may contact the Howard Group for more details.

The financing will fulfill HLS' need for resources to carry out on its 2007 growth strategy, allowing it to accelerate the expansion of Bug DeFence into select geographic areas.