CALGARY, Feb. 18 /CNW/ - Rapid Solutions Corporation (TSX-V: RPD) is
pleased to announce a non-brokered private placement of up to 3,600,000 common
shares at a price of USD $0.05 per common share for gross proceeds of
approximately USD $180,000.00.
The private placement is expected to close on or about February 28, 2009.
It is anticipated that the majority of the private placement will be
subscribed to by insiders of Rapid. The private placement will not result in
any new control person (as that term is defined under applicable securities
The proceeds of the private placement will be used in connection with
continued development, marketing and sale of the company's products. The
private placement is subject to receipt of all necessary regulatory approvals.
About Rapid Solutions
Rapid Solutions Corporation is focused on providing integrated data
management solutions to upstream energy producers and other high risk and
process intensive industries. Rapid utilizes proprietary architecture to
connect a database of operating procedures and safe operating conditions into
the field at the point of need. Accurate field level information and data
capture enables corrective action and averts defects that lead to process
upset and unscheduled downtime. Through its Canadian operating unit, Rapid
offers the upstream energy sector a similar opportunity to achieve master well
Neither TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information on Rapid, go to www.rapid.com.
For further information:
For further information: Dale Kearns, Executive Vice President, Rapid
Solutions Corporation, 3993 W. Sam Houston Pkwy. N., Houston, TX, 77043,
Telephone: (403) 608-5850, Email: firstname.lastname@example.org