HSE Integrated Ltd.
TSX VENTURE : HSL

HSE Integrated Ltd.

April 05, 2006 08:08 ET

HSE Integrated Ltd. Announces $10.65 Million Offering

TORONTO, ONTARIO--(CCNMatthews - April 5, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

HSE INTEGRATED LTD. (TSX VENTURE:HSL) is pleased to announce that it has entered into an agreement with Blackmont Capital Inc. pursuant to which the underwriter, together with a syndicate of underwriters, has agreed to purchase 3,000,000 common shares, at a price of $3.55 per share, for aggregate proceeds to HSE Integrated of approximately $10.65 million. The Underwriters have the option to purchase up to an additional 300,000 shares at the share issue price of $3.55 per share, for additional proceeds of $1.065 million, at any time up to 30 days after the closing of the offering. The offering is scheduled to close on or about April 26, 2006 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The securities issued pursuant to the offering shall be subject to a four-month hold period in accordance with applicable securities laws.

The proceeds raised from the offering shall be used by HSE Integrated for general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an application exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

HSE is an integrated supplier of industrial Health, Safety and Environmental services. From its head office in Calgary, Alberta, its serves its clients from eight field service locations in Alberta and British Columbia. HSE trades on the TSX Venture Exchange under the symbol "HSL".

Forward Looking Statements

Statements in this document that may be considered forward-looking are based on management's current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated.

For further information visit the HSE Integrated website at www.HSEIntegrated.com.

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.

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