Industry News

Aquarius Coatings Inc. Announces Closing of Private Placement

Published on 2005-04-04. Author : SpecialChem

TORONTO -- Aquarius Coatings Inc. ("Aquarius") (TSX-VEN: AQC) announces that, following final acceptance of the TSXV Venture Exchange, it has completed the previously announced private placement of 10,000,000 shares at $0.05 per share for an aggregate consideration of $500,000.

The proceeds of the private placement will be used to repay advances used to acquire a 51% interest in Certified Emission Reductions Inc.

The common shares issued in the private placement are subject to a four- month hold period imposed by the TSX Venture Exchange and to resale restrictions for a four-month period under provincial securities laws. The hold period and resale restrictions expire on July 31, 2005.

As a result of the private placement, Aquarius has 75,948,141 common shares issued and outstanding.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Source: Aquarius Coatings Inc.

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