Resin Systems Announces Rights Offering

    CALGARY, June 16 /CNW/ - Resin Systems Inc. ("RS") (RS - TSX), a
technology innovator that develops advanced composite products for
infrastructure markets, announced today that it is proceeding with a rights
offering to shareholders of RS (the "Rights Offering"). Pursuant to the Rights
Offering, each holder of common shares (the "Common Shares") will receive one
right (a "Right") for each Common Share held. For every four Rights held a
holder thereof will be entitled to purchase one Common Share at a price of
$0.33. Shareholders will also have the opportunity to acquire additional
Common Shares beyond their entitlement through an additional subscription
privilege. Details as to the operation of this privilege are described in the
Rights Offering Circular to be mailed to shareholders in connection with the
Rights Offering (the "Rights Offering Circular"). Pursuant to the Rights
Offering, a maximum of approximately 36,787,039 Common Shares will be issued
which represents 25% of the currently issued and outstanding Common Shares.
    The record date for the Rights Offering has been set at the close of
business on June 24, 2009. The Rights will expire at 10:00 a.m. (Calgary time)
on July 24, 2009. RS has received conditional approval for listing of the
Rights and the Common Shares to be issued upon exercise of the Rights on the
Toronto Stock Exchange (the "TSX"). Completion of the Rights Offering is
subject to receiving all necessary regulatory and TSX approvals. For full
details of the Rights Offering please see the Rights Offering Circular which
is available on SEDAR at

    Stand-by Commitments

    Stand-by commitments to purchase in the aggregate 100% of any Common
Shares issuable pursuant to the Rights which are not acquired by other
rightsholders are being provided by the members of the Board of Directors of
RS (the "Board"), Clive Beddoe and AGF Funds Inc. The terms of any
subscription under the Stand-by commitments will be identical in all respects
to those of shareholders as a whole under the Rights Offering.

    Use of Proceeds

    RS will receive gross proceeds of $12,139,723 and net proceeds of
approximately $12,039,723 after deducting expenses of the Rights Offering
estimated at $100,000. The completion of the Rights Offering is not
conditional upon RS receiving any minimum amount of subscriptions from
shareholders. The proceeds of the Rights Offering will be used to fund general
working capital and capital expenditures.

    About RS

    RS is a technology innovator that develops advanced composite material
products for infrastructure markets. The composite products manufactured using
the company's proprietary materials and processes are typically lighter, more
durable and longer-lasting than competing products made from the traditional
building blocks of wood, steel or concrete.
    RS's flagship product is its award-winning RStandard(TM) composite pole.
RStandard poles are used to carry transmission and distribution electric grids
and as communication structures for wireless and microwave communication
    For the latest on RS's developments, go to the company's website at
    "RStandard" is a trademark of RS.

    Forward-Looking Statements

    Certain statements included in this press release constitute
forward-looking statements. Such forward-looking statements involve unknown
risks, uncertainties and other factors that may cause actual results,
performance or achievements of RS to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Additional factors that could affect RS's
operations and financial results are included in reports on file with Canadian
securities regulatory authorities and may be accessed through the SEDAR
website ( under RS's profile. Forward-looking statements in this
press release may include, but are not limited to, statements regarding the
proceeds to be realized from the Rights Offering and the use of proceeds
therefrom. For this purpose, any statements of historical fact may be deemed
to be forward-looking statements. Forward-looking statements often contain
terms such as "may", "will", "should", "anticipate", "expects", "intends" and
similar expressions. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements. Furthermore, the forward-looking
statements contained herein are made as at the date hereof and RS does not
undertake any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.

For further information:

For further information: Resin Systems Inc., Dimitrios (Jim) Leonidas,
Chief Financial Officer, Tel: (403) 219-8000, Fax: (403) 219-8001, Email:; Laurien Abel, Investor Relations and Communications, Tel:
(403) 219-8000, Fax: (403) 219-8001, Email:

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