Aqua Society, Inc.
OTC Bulletin Board : AQAS

Aqua Society, Inc.

June 30, 2005 10:42 ET

Aqua Society, Inc. Announces Private Placement

HERTEN, GERMANY--(CCNMatthews - June 29, 2005) - Aqua Society, Inc. (OTCBB:AQAS)(FWB:UP4A) (the "Company") announced today that it has completed the private placement financing announced on June 14, 2005. The financing has been provided by two corporate investors in exchange for 1,232,322 units at a price of $1.98 per unit for total proceeds of $2,440,000 (approximately EUR 2,000,000). Each unit consists of one share of the Company's common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of the Company's common stock at a price of $1.98 per share for a period of one year from the date the warrant is issued.

The proceeds of the private placement will be used to fund the development and marketing of the Company's products and for general corporate purposes. Aqua Society, Inc. designs and develops technologies for application in the areas of refrigeration, water purification and waste water treatment. In addition to developing the Thermomobile mobile refrigeration unit, the Company has developed the Aquamission, a product that is capable of extracting potable water from the atmosphere, and is in the process of developing additional technologies for optimizing the energy consumption of refrigerating units and refrigerated shipping containers. In addition, the Company has considerable experience and expertise in utilizing membrane and vacuum technologies to design, construct and maintain water purification, water recycling and waste water treatment systems.


Achim Stamm, President

This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

Contact Information

  • Aqua Society, Inc.
    Abraham Joy
    49-(0)-6031-791762 (FAX)