April 26, 2010 16:56 ET

Baden Announces Private Placement

CALGARY, ALBERTA--(Marketwire - April 26, 2010) - Baden Technologies Inc. ("Baden") (TSX VENTURE:BDZ) is pleased to announce that it intends to pursue a brokered private placement of up to 10,000,000 units at a price of $0.06 per unit, for gross proceeds of $600,000. Each unit shall consist of one common share in the capital of Baden (a "Common Share") and one Common Share purchase warrant, each warrant entitling the holder to purchase a Common Share at a price of $0.10 for a period of 2 years from the closing date of the private placement. Bloom Capital Partners Inc. is acting as agent for the private placement.

Following the private placement, Baden will have approximately 31,681,501 Common Shares issued and outstanding. Proceeds from the private placement will be used to fund development expenditures, and for general corporate purposes. The Common Shares issued pursuant to the private placement will be subject to a statutory restriction on trading for a period of four months and one day from the date of closing. It is anticipated that the private placement will close on or about April 30, 2010.

Through its wholly owned subsidiary FSI International Services Ltd., Baden Technologies Inc. is a Calgary-based manufacturing and service company specializing in customized filtration, filtration-related technologies and Brine Plants for the international and domestic energy and chemical industries.

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

Contact Information

  • Baden Technologies Inc.
    Richard Ball
    President and CEO
    (403) 571-4230
    (403) 230-3106 (FAX)