HaloSource Corporation Update in Funding Options (3049P)
07 Febrero 2019 - 1:00AM
UK Regulatory
TIDMHAL TIDMHALO
RNS Number : 3049P
HaloSource Corporation
07 February 2019
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 Tel: +1 (0) 425 419 2257
James Thompson (Chief Executive Officer) Tel: +1 (0) 425 419 2248
Craig Crowell (Chief Financial Officer)
WH Ireland Limited (Nominated Adviser and Broker) Tel: +44 (0)207 220 1666
Chris Fielding / Chris Viggor
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END
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