E.S.I. Environmental Sensors Inc. announced that it expects to receive CAD 0.18 million in funding from Avis Financial Corp..

E.S.I. Environmental Sensors Inc. (TSXV:ESV) announced a non-brokered private placement of up to 3,600,000 units at CAD 0.05 per unit for gross proceeds of up to CAD 180,000 on March 25, 2015. Each unit consists of one common share and one common share purchase warrant. Each warrant will be exercisable into an additional common share for a period of three years from the closing date.

The warrants will be exercisable at a price of CAD 0.10 for the first year following the closing of the transaction, CAD 0.15 for the second year following closing, and CAD 0.20 for the third year following closing. The transaction is subject to TSX Venture Exchange acceptance. Subject to Exchange approval, the company will pay finders' fees in connection with the transaction.