ESI Corporate Update
Victoria, British Columbia March 30, 2010 – E.S.I. Environmental Sensors Inc. (ESI), TSX-V: ESV today announced the share exchange transaction previously announced May 21 2009, with Grafton Resource Investments Ltd. ("Grafton"), a Closed-End Fund managed by Newland Fund Management LLP of London, England has been mutually unwound. ESI was to issue to Grafton Fund 5,000,000 shares at CAD$0.20 per share, representing a value of CAD$1,000,000 in exchange for 26,028 Ordinary Shares of Grafton at USD$38.42 per share.
As the shares of ESI were never issued by previous management, Grafton and ESI agreed that the transaction be unwound by Grafton redeeming the Grafton shares issued to ESI.
The Company would also like to announce that KPMG, the corporate Auditors, are completing their audit process so ESI can bring their annual financial and quarterly filings up to date within the next few weeks.
About ESI
ESI is a leading manufacturer of patented and proprietary solutions for managing the world's fresh water supply. Major market sectors include: Agriculture, Golf and Turf, Scientific Research, Civil Engineering and Crude Oil. ESI solutions have been successfully introduced into more than 40 countries to enable customers to optimize their operations by monitoring the presence and movement of water, managing irrigation systems, and monitoring the integrity of landfill covers. Most recently, the Flo·Point™ instrument has been introduced to the Oil industry to measure the volumetric presence of water pumped during crude oil extraction. This provides operators with the information needed to manage, refine and optimize production. ESI differentiates itself by translating the best technology and science available into practical, easy to use solutions. Irrigation managers, Reservoir Engineers, and Scientists have adopted ESI's products for their accuracy, ease of use, repeatability, and ability to operate in challenging environments. ESI is publicly traded on the TSX Venture Exchange under the symbol "ESV". Further information about ESI may be obtained through the Company's website at www.esisensors.com.
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ESI ENVIRONMENTAL SENSORS INC. |
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