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EcoSynthetix Inc. Announces Closing of Over-Allotment
September 12, 2011
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
BURLINGTON, ON, Sept. 12, 2011 /CNW/ – EcoSynthetix Inc. ("EcoSynthetix" or the "Corporation") today announced that the underwriters have purchased an additional 300,000 common shares of the Corporation at a price of $9.00 per share, pursuant to the partial exercise of an over-allotment option granted to the underwriters in connection with the previously announced initial public offering of common shares of EcoSynthetix, which closed on August 4, 2011. EcoSynthetix did not receive any proceeds from the sale of these additional shares. The common shares of EcoSynthetix are listed on the Toronto Stock Exchange under the symbol "ECO".
The exercise of the over-allotment and initial public offering was made through a syndicate of underwriters co-led by UBS Securities Canada Inc., Canaccord Genuity Corp. and RBC Capital Markets and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., GMP Securities L.P. and Piper Jaffray Co. (collectively, the "Underwriters").
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these common shares in the United States, nor shall there be any sale of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The common shares described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix Inc. is a renewable chemicals company specializing in bio-based products that can be used as inputs in industrial manufacturing for a wide range of consumer products. The Company's products offer a reduced carbon footprint and are marketed primarily on the basis of lower cost, stable pricing and equal or superior performance. EcoSynthetix's lead product, ECOSPHERE BIOLATEX® binders, is used commercially by 3 of the global top 5 manufacturers in the coated paper and paperboard industry and 9 of the global top 20 manufacturers are currently in the process of evaluating the Company's products.
Source: Canada Newswire (September 12, 2011 – 9:46 AM EDT)
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