18 May 2017 07:00
18 May 2017
THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
HaloSource, Inc.
("HaloSource" or the "Company")
Update on Fundraising
HaloSource Inc. (HAL.LN, HALO.LN), the global clean water technology company traded on London Stock Exchange's AIM market, refers to its previous announcement of 21 April 2017 in relation to the conditional issue of new common shares (the "New Common Shares") to raise approximately £1.9 million ($2.3 million) (the "Fundraise").
The Company is pleased to announce that the Company has obtained the requisite numbers of waivers of existing shareholders to (a) amend the articles of incorporation to increase the authorised share capital of the Company; and (b) issue the New Common Shares without having to make a pre-emptive offer to existing shareholders.
The Fundraise remains conditional on one of the key cornerstone investors to the Fundraise receiving a certain Chinese governmental approval to enable the investor to complete its participation in the Fundraise. At this stage, the process for receipt of such governmental approval remains ongoing. The Company will apply for admission to AIM of the New Common Shares ("Admission") on all conditions of the Fundraise being satisfied. The Company will make a further announcement in due course regarding the Chinese governmental approval and timing of Admission.
The information communicated in this Announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR"). For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Craig Crowell, Chief Financial Officer.
Enquiries:
HaloSource, Inc. | |
James Thompson, Chief Executive Officer | +1 425 419 2257 |
Craig Crowell, Chief Financial Officer | +1 425 419 2248 |
Hybridan LLP (Sole Broker) | |
Claire Noyce, Niall Pearson | +44 203 764 2341 |
Liberum Capital Limited (NOMAD) | |
Richard Bootle, Jill Li, Steve Pearce
| +44 203 100 2222 |
About HaloSource
HaloSource, Inc. innovates and integrates technologies to deliver clean drinking water solutions to partners with trusted brands around the world. The Company works with scientists and industry experts across the globe in search of new ways to improve drinking water quality and has been awarded more than 30 patents for its ground breaking chemistries, which provide safe drinking water for more than 10 million consumers globally. The Company's class-leading HaloPure® Drinking Water technology has the highest global certifications, including registration with the US EPA.
Founded in Seattle, Washington, HaloSource has grown to become an influential leader in drinking water purification. HaloSource is headquartered in the US with operations in China and in India. Learn more about the Company's research and development and future cutting edge technologies by visiting www.halosource.com.
HaloPure® is a registered trademark of HaloSource, Inc. All other trademarks, brand names or product names belong to their respective holders.
This document contains certain forward-looking statements relating to the Company. The Company considers any statements that are not historical facts as "forward-looking statements". They relate to events and trends that are subject to risk and uncertainty that may cause actual results and the financial performance of the Company to differ materially from those contained in any forward-looking statement. These statements are made by management in good faith based on information available to them and such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.
Hybridan LLP, which is regulated by the Financial Conduct Authority, is acting exclusively for HaloSource in connection with the Placing and no-one else and will not be responsible to anyone other than HaloSource for providing the protections afforded to customers of Hybridan LLP, or providing advice in connection with the Fundraise or any transaction or arrangement referred to in this announcement.
Liberum Capital Limited, which is regulated by the Financial Conduct Authority, is acting exclusively for HaloSource in its role as nominated adviser and no-one else and will not be responsible to anyone other than HaloSource for providing the protections afforded to customers of Liberum Capital Limited, or providing advice in connection with the Fundraise or any transaction or arrangement referred to in this announcement.
This announcement does not constitute, or form part of, an offer, or solicitation of an offer, or invitation to subscribe for or purchase any rights, ordinary shares or other securities of the Company in the United States. In addition, the securities of the Company to be issued in the Placing have not been, and will not be, registered under the US Securities Act of 1933 (as amended) (the "Securities Act") or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold or delivered within, in or into the United States or to, or for the account or benefit of, US Persons absent an applicable exemption from the registration requirements of the Securities Act. There will be no public offer of securities within the United States.