HaloSource receives investment funds to improve operations
HaloSource, Inc. has announced the successful fund raising of 16 million pounds ($25 million) to give HaloSource to take advantage of and maximize the multitude of opportunities that are evident in its core areas of operation.
BOTHELL, WA, Oct. 15, 2012 -- HaloSource, Inc., the clean water technology company, has announced the successful fund raising of 16 million pounds ($25 million) traded on the London Stock Exchange from the investment community to give HaloSource the funds to maximize the multitude of opportunities that are evident in its core areas of operation. As a result of this offering, which took place on Oct. 19, 2012, HaloSource will issue 80 million new shares of common stock at 20 percent.
The financing was supported by Invesco Perpetual, which has offered to purchase up to 10 million pounds, or approximately 40 percent of the total contingent fundraising. Invesco’s Neil Woodford commented, “HaloSource is gaining traction on the strategic plan implemented earlier this year. We are very confident in the business, its products and new leadership and are looking forward to the successful execution of its strategic plans."
As part of this offering, HaloSource has obtained additional investments from several new institutional investors, as well as existing investors who continue to believe in the unique patented technologies and products across all segments of its business. HaloSource has continued to gain support and interest during the year as it has demonstrated the ability to execute successfully against its strategy for growth across the segments, focusing on technology innovation, commercialization and consumer awareness, and improved global partnering activity by concentrating on fewer, deeper, more meaningful global partnerships.
“We are delighted to see such strong support from the investment community, both from our existing and also new shareholders,” said Martin Coles, who was named chief executive officer of the company last October. “Having the flexibility in our balance sheet to continue to execute against our strategy and grow the company really sets the stage for what’s to come. We have a very large base of scientific knowledge, technology know-how and IP which we look forward to bringing to market in the coming months and years across all our businesses.”
HaloSource, Inc. is a global clean water technology company headquartered in Bothell, Wash. We design solutions to protect people, preserve the planet and celebrate our most valuable resource -- water that is safer, cleaner and more accessible for people everywhere. HaloSource is committed to relentless innovation, industry-leading products and ongoing support for water-related philanthropy. Our proprietary technologies for drinking and recreational water, textile coatings, and environmentally friendly wastewater recycling enable our partners to rid the world’s water of impurities and return it responsibly to the earth.
HaloSource Technologies that Protect Water and Textiles:
• HaloPure®media is the most flexible, price-competitive disinfection solution for clean drinking water in the industry. In 2009, it became the first drinking water technology in 30 years to be registered by the United States Environmental Protection Agency (USEPA), widely recognized as having the world’s most stringent performance requirements for water purification. In 2010, HaloPure media was approved by China's Ministry of Health (MOH) and recognized for meeting the world’s most stringent water purification requirements, a key differentiator for our multi-national partners. In Brazil, the use of HaloPure media has met or exceeded all appropriate standards of the National Institute of Metrology, Standardization and Industrial Quality (INMETRO).
• SeaKlear®Pool and Spa treatment products bring both natural biopolymers and antimicrobial applications for treating recreational water.
• HaloShield®products consist of antimicrobial coatings solutions that employ unique technology that binds chlorine-‐based bleach to textiles such as sheets, lab coats and towels for use as a non-‐toxic biocide.
HaloSource Technologies that Preserve the Environment:
• HaloKlear® products use natural biopolymers providing industrial water clarification with dramatic reductions in ecological impact.
HaloSource Celebrates Clean Water:
• HaloSource supports organizations dedicated to sustainable clean water projects. Earlier this year, we were proud to be a presenting sponsor in the 2012 Carry5 awareness and fundraising event benefiting Water 1st International.
HaloKlear, HaloPure, SeaKlear and HaloShield are registered trademarks of HaloSource, Inc. All other trademarks, brand names or product names belong to their respective holders.
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