FSI Energy Services Inc.

September 17, 2010 12:09 ET

FSI Announces Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwire - Sept. 17, 2010) - FSI Energy Services Inc. ("FSI") (TSX VENTURE:FSI) is pleased to announce that it has signed a non-binding Letter of Intent with a potential investor to pursue a non-brokered private placement of up to 4,000,000 Common Shares at a price of $0.45 per Common Share, for gross proceeds of up to $1,800,000.

Following the private placement, FSI will have approximately 25,681,501 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 October 15, 2010.

Through its wholly owned subsidiary FSI International Services Ltd., FSI 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • FSI Energy Services Inc.
    Richard Ball
    President and CEO
    (403) 571-4230
    (403) 230-3106 (FAX)