7 Feb 2019 07:00
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
HaloSource Corporation
("HaloSource" or the "Company")
Update on Funding Options
HaloSource Corporation (HAL.LN, HALO.LN), the global clean water technology company, announces that it has received an offer from Strix Group Plc to acquire the majority of the Company's assets for approximately US$1.3 million in cash, (the "Disposal"), including an advance of funds to the Company for working capital purposes of approximately $0.1 million by way of an unsecured promissory note. Cash received from completion of the Disposal will be used to pay the Company's creditors. It is not expected any payment will be made to its shareholders.
The Disposal remains subject to, inter alia, the satisfactory completion of due diligence, agreement of legal documentation, including the detailed list of assets subject to the offer, and HaloSource shareholders' approval.
A further announcement will be made as soon as appropriate.
Enquiries:
HaloSource Corporation James Thompson (Chief Executive Officer) Craig Crowell (Chief Financial Officer)
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Tel: +1 (0) 425 419 2257 Tel: +1 (0) 425 419 2248 |
WH Ireland Limited (Nominated Adviser and Broker) Chris Fielding / Chris Viggor | Tel: +44 (0)207 220 1666
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HAL.L (HAL)
Halosource (Di) (HALO)