CALGARY, April 3 /CNW/ - Rapid Solutions Corporation (TSX-V: RPD)
confirms that pursuant to its earlier announcement, it has closed the
non-brokered private placement of up to 3,600,000 common shares at a price of
USD $0.05 per common share announced on February 18, 2009. The placed common
shares have a 4-month hold period which shall expire on August 3, 2009.
The financing placed 3,600,000 common shares at a price of USD $0.05 per
common share for gross proceeds of USD $180,000 (the "Offering"). Certain
insiders of Rapid subscribed to 2,400,000 common shares of the Offering. The
Offering did not result in any new control person (as that term is defined
under applicable securities laws).
The proceeds of the private placement will be used in connection with
continued development, marketing and sale of the company's products.
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