CALGARY, Oct. 20 /PRNewswire/ - RS Technologies Inc. ("RS") (RS - TSX), a technology innovator and manufacturer of advanced composite products for infrastructure markets, today announced that it has issued 871,338,398 common shares of RS to satisfy its obligation to repay all of the $10 million principal amount of 15 percent secured redeemable convertible debentures of RS due today and the accrued and unpaid interest thereon. RS has approximately 2.23 billion common shares issued and outstanding following the share issuance.
RS is an ISO 9001:2008 certified technology innovator that develops advanced composite material products for infrastructure markets. The composite products manufactured using the company's proprietary resins and processes are typically lighter, more durable and longer-lasting than competing products made from the traditional building blocks of wood, steel or concrete. RS's flagship product is its award-winning RStandard® composite pole. The pole is used as transmission and distribution poles to carry electric grids and as communication structures for various uses including wireless networks and microwave communications systems.
For the latest on RS's developments, go to the company's website at href="http://www.grouprsi.com/">www.grouprsi.com.
"RStandard" is a registered trademark of RS.
SOURCE RS Technologies Inc.