TIDMHAL

RNS Number : 2646X

HaloSource Inc

18 November 2014

18 November 2014

HaloSource, Inc.

("HaloSource" or the "Company")

SECURES FUNDING TO SUPPORT GROWING BUSINESS

HaloSource, Inc. (HAL.LN, HALO.LN), the global clean water technology company traded on London's AIM, is pleased to announce the successful fundraising of GBP7 million (approximately $11 million) from existing investors in a secondary share offering. The shares were admitted to trading on the AIM market of the London Stock Exchange plc at 8:00 a.m. today.

The financing was supported by Woodford Investment Management, which subscribed for approximately GBP4.6 million or approximately 65% of the total fundraising. Woodford Investment Management now hold 19.5% of HaloSource's total shares in issue.

With this additional capital the Company will be able to continue to invest in the accelerated development and commercialisation of its technologies in the drinking water, environmental water and recreational water markets. The Company's strategy is to bring these highly effective technologies to market through partnerships with industry leaders that have established marketing channels, legacy brands and proven track records. Companies like Perfect (China), Eureka Forbes (India) and Jarden (Latin America) depend upon HaloSource to provide world-class technologies to differentiate their branded consumer products.

HaloSource is focused on innovation in the chemistry of water purification through its in-house R&D team of chemists, biochemists, microbiologists and engineers. The Company has been awarded more than 70 patents in the purification sector, which provide clear competitive advantage. HaloSource's water purification technology also has broad regulatory approvals, from the US Environmental Protection Agency, and with regional regulatory bodies in China's Ministry of Health and regional regulators in Latin America, Brazil and India and other SE Asian markets. The Company is a leading provider of responsible and effective solutions in making water safe for millions of people across the globe.

Martin Coles, President and Chief Executive Officer of HaloSource, said:

"We are very pleased with the continued strong support and confidence of the UK's investment community. With our balance sheet strengthened, we are ideally positioned to continue to deliver on our strategy and drive profitable growth from existing and new partners.

We are delighted to welcome back one of the best known and best performing fund managers in the UK. Neil Woodford, a founding partner of Woodford Investment Management, has been a strong supporter of our Company since our IPO in 2010 and we are committed to validating his belief in us as well as that of our other shareholders in the coming years."

Enquiries:

 
 HaloSource 
 Martin Coles, Chief Executive Officer      +1 425 974 1975 
 James Thompson, Chief Financial Officer    +1 425 974 1993 
 
 Liberum (NOMAD & Broker) 
 Richard Bootle/Jill Li/Steve Pearce        +44 203 100 2222 
 
 Newgate Communications (Financial PR)      +44 207 680 6550 
 James Benjamin/Georgia Lewis

About HaloSource

HaloSource, Inc. creates innovative solutions for water purification that serve people, preserve the planet and protect our most valuable resource. The Company works with scientists and industry experts across the globe in search of new ways to improve water quality and has been awarded more than 70 patents for its ground breaking chemistries which provide effective and environmentally responsible solutions to the growing issue of water stress.

Founded in Seattle, Washington, HaloSource has grown to become an influential leader in three market segments: drinking water, recreational water, and environmental water treatment and remediation. HaloSource is headquartered in the US with operations in China and in India. Learn more about the Company's research and development and future cutting edge technologies by visiting www.halosource.com.

HaloKlear, HaloPure, and SeaKlear are either trademarks or registered trademarks of HaloSource, Inc. All other trademarks, brand names or product names belong to their respective holders.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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