Richard A. Hoel Increases his Participation in H2O Innovation Inc.
December 22 2008 - 4:25PM
Marketwired
Richard A. Hoel announces today that he acquired today a total of
1,263,886 common shares (the "Common Shares") in the share capital
of H2O innovation Inc. ("H2O Innovation" or the "Corporation") (TSX
VENTURE: HEO)(ALTERNEXT: MNEMO:ALHEO), representing approximately
2.67% of the issued and outstanding Common Shares of the
Corporation.
After the transaction, Mr. Hoel, a director of the Corporation,
is now the beneficial owner of a total of 5,886,214 Common Shares
of H2O Innovation representing approximately 12.43% of the
47,367,212 issued and outstanding Common Shares of the Corporation
as of December 22, 2008. In addition, Mr. Hoel also holds a total
of 37,000 options to acquire up to 37,000 Common Shares under the
stock option plan of the Corporation. His participation, assuming
only the exercise of his options, would then represent a total of
5,923,214 Common Shares being 12.50% of the Common Shares then
issued and outstanding.
The Common Shares were acquired by Mr. Hoel for investment
purposes through the facilities of the TSX Venture Exchange.
Richard A. Hoel may, from time to time, acquire additional
securities of H2O Innovation, dispose of some or all of the
securities that he holds, or might hold, or continue to hold his
current positions.
Richard A. Hoel will be filing a report (as contemplated by
National Instrument 62-103 respecting the Early Warning System and
Related Takeover Bid and Insider Reporting Issues) in connection
with his acquisition of the Common Shares. For further information,
or to obtain a copy of such report, please contact:
Richard A. Hoel
Suite 3500
225 South Sixth Street
Minneapolis, MN 55402-4629
Telephone: 612.604.6690
rhoel@winthrop.com
About H2O Innovation
H2O Innovation's mission is to design, develop, produce and
integrate state-of-the-art, environmental friendly products
dedicated to the production of drinking water, the treatment of
wastewater and industrial processed water, and the reclamation of
water.
The TSX Venture Exchange and the Alternext Exchange assume no
responsibility for the relevance or accuracy of this press
release.
Contacts: Source: H2O Innovation Inc. www.h2oinnovation.com
Contact: H2O Innovation Inc. Guillaume Ducharme Director of
Communications 418-688-0170
guillaume.ducharme@h2oinnovation.com
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