Commercial Solutions Inc.

Commercial Solutions Inc.

October 15, 2009 20:38 ET

Commercial Announces Mezzanine Financing

EDMONTON, ALBERTA--(Marketwire - Oct. 15, 2009) - COMMERCIAL SOLUTIONS INC. ("Commercial" or "Company") (TSX:CSA) a leading Canadian distributor of bearings, power transmission, oilfield, industrial, safety, survey and resource management equipment products, announced that on October 15, 2009 it closed an arm's-length private placement for gross cash proceeds of $3,000,000. The closing was comprised of subordinated secured promissory notes earning 18% per annum and 1,200,000 Warrants. Each whole Warrant entitles the holder to purchase one Common Share of the Company at a price of $0.31 per share for a period of three years, expiring October 8, 2012.

The Common Shares to be issued upon exercise of the Warrants will be subject to a four month statutory hold period from the date of grant.

Commercial is also pleased to announce that its senior lender has committed to a one year extension on the senior debt subject to finalization of legal review. The proceeds from the private placement will be used by the Company to supplement working capital and to partially repay the senior security debt.

The private placement has received conditional approval from the Toronto Stock Exchange and final approval is pending.

About Commercial

Headquartered in Edmonton, Alberta, Commercial is one of Canada's leading independent industrial distributors with 29 Services Centres and approximately 275 employees located across Canada. Commercial offers more than 160,000 items critical to maintenance repair and operations (MRO) and original equipment manufacturer (OEM) customers. The Company represents 450 leading manufacturers and serves over 11,000 customer accounts within a broad cross-section of industries, including oil and gas, forestry, food processing, chemical processing, mining and aggregate, utilities, agriculture and construction. Commercial trades under the symbol "CSA" on the Toronto Stock Exchange. For further information on the Company, please visit and for detailed financial information visit

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