|By Marketwired .||
|August 9, 2013 04:01 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 08/09/13 -- Enssolutions Group Inc. (TSX VENTURE:ENV)(PINKSHEETS:NSLSF) ("Enssolutions" or the "Company"), a manufacturer and distributor of environmentally responsible emulsion products for a wide variety of industrial and commercial market demands, wishes to provide an update on the status of its previously announced private placement (the "Private Placement") in the amount of up to $2,000,000 through the issuance of up to 40,000,000 common shares at a price of $0.05 per common share. The Company is continuing the process of soliciting subscription commitments for the Private Placement and now anticipates raising up to $1,500,000 through the issuance of up to 30,000,000 common shares at a price of $0.05 per common share. The Company expects that the closing of the Private Placement will take place, subject to regulatory approvals, on or about October 31, 2013. Further updates on the status of the Private Placement will be announced as may be required or appropriate.
Additionally, the Company wishes to report that it settled an interest payment in the amount of $3,479 on its outstanding unsecured debentures (the "Debentures") by the issuance to the Debenture holders of 69,572 common shares of the Company. The issuance of the Debentures was completed on March 16, 2011 and was announced in a new release dated March 16, 2011. Please see the earlier news release for details. The terms of the Debentures expressly permit the payment of interest by the issuance of common shares of the Company.
Enssolutions manufactures, distributes and applies environmentally responsible products to meet a wide variety of industrial and commercial market demands. Enssolutions provides engineered environmental solutions for mine tailings control, process dust and erosion control, granular stabilization, road construction/maintenance and stockpile sealing. It has production facilities in Hamilton, Ontario and Phoenix, Arizona that service some of North America's largest mining, steel, cement, and road construction/maintenance companies as well as numerous public road authorities.
For more information on Enssolutions, please visit www.enssolutions.com.
Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.