Genesis Fluid Solutions Holdings, Inc. (OTCBB: GSFL), a designer and developer of waterway restoration and water remediation technology and equipment, today announced the consummation of a financing round with aggregate gross proceeds of $2,687,500.
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The proceeds from the financing will be used primarily for equipment purchases, repayment of existing indebtedness and general working capital. After accounting for the financings, the Company currently has 17,658,500 shares of common stock outstanding. Martin Hedley, CEO of Genesis Fluid, stated, "The Company has successfully raised over $6 million of equity financing in the last two months. We are now in a position to begin implementing our business plan in our target market." Bud Little, CFO of the Company, added, "This funding gives us a solid runway from which to grow revenues and purchase related capital equipment." Genesis Fluid Solutions Holdings, Inc., through its wholly-owned subsidiary, Genesis Fluid Solutions, Ltd. is engaged in the design and development of waterway restoration and water remediation technology and equipment for the environmental, mining and paper industries. Genesis holds various United States and international patents and patent applications on water restoration and remediation technology, and seeks to license such technology and equipment to others, as well as to enter into contracts for the performance of water restoration and remediation.
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