Date Closed

September 30, 2013

Lead Office

Québec City

Value

2.14 Million CAD

On September 30, 2013, H2O Innovation Inc. announced that it had completed a non-brokered private placement of approximately C$2.135 million.  As part of the Offering, H2O Innovation issued 9,704,546 Common shares (the Common Shares) at a price of C$0.22 per Common Share for aggregate gross proceeds of approximately C$2.135 million. Among the Common Shares issued in connection with the Offering, 714,712 Common Shares are issued to certain creditors of the company, Richard A. Hoel and Laurence E. Gamst, to reduce the long-term debt of the Corporation by approximately C$157,000.

H2O Innovation will use the proceeds of the Offering to reimburse partially its long-term debt and to support its working capital.

H2O Innovation, headquartered in Québec City, Québec is a designer and provider of state-of-the-art, custom-built, and integrated water treatment solutions.

McCarthy Tétrault LLP represented H2O Innovation with a team led by Philippe Leclerc, and including Myreille Gilbert, and Charles-Antoine Soulière.