elso Technologies closes $268,652 private placement

2009-07-02 10:28 ET - News Release

Mr. John Carswell reports

KELSO TECHNOLOGIES RECEIVES TSX VENTURE EXCHANGE APPROVAL AND CLOSES PRIVATE PLACEMENT

Kelso Technologies Inc. has closed its private placement (see news releases dated Dec. 22, 2008, and amended Jan. 7, 2009, Feb. 23, 2009, April 29, 2009, and May 28, 2009, in Stockwatch) after having received approval from the TSX Venture Exchange.

The private placement totalled $268,652.

The company issued 10,746,080 units. All subscribers paid a price of 2.5 cents per unit; each unit comprised one common share plus one warrant. Each warrant will be exercisable at a price of 10 cents for a period of two years (until June 23, 2011).

The issued securities are subject to hold periods expiring after Oct. 23, 2009.

The company paid finders' fees totalling $4,500 to three individuals.

The president and chief executive officer, who is also a director, purchased 1.33 million units; a second director purchased 377,280 units; and a ProGroup member purchased 200,000 units.

We seek Safe Harbor.