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Pliteq raises $2.25 mln to solve construction issues with recycled materials

Toronto-based Pliteq Inc, an engineering company focused on solutions to structural, vibration, and sound control problems using recycled materials, has raised $2.25 million from an existing private investor and Grenville Strategic Royalty Corp, a new Canadian royalty financing firm. Funding proceeds will help the company provide services to customers in commercial and residential construction sectors and bring new products to market. Corporate finance advisory firm GreenSky Capital Inc assisted Pliteq in securing the investment.

PRESS RELEASE

GreenSky Capital Inc. assists Pliteq Inc. in securing $2.25 million in operating capital

Pliteq Inc. (“Pliteq”) is an engineering company dedicated to providing creative solutions to structural, vibration, and sound control problems using recycled materials.

Toronto, ON, September 19, 2013 – Pliteq, makers of the GenieClip and GenieMat, is proud to announce the closing of a $2.25 million financing which will enable Pliteq to fulfill the rapidly growing global demand for its products in medium and large scale multi-residential and commercial construction markets.

“This capital will allow us to properly service our expanding customer base as well as continue to innovate and bring new products to market. GreenSky Capital’s financial expertise and their access to the capital markets has been essential in helping us secure this capital at a crucial time in our growth,” said Pliteq CEO Paul Downey.

The $2.25M capital injection comes from an existing private investor and from Grenville Strategic Royalty Corp., a new Canadian royalty financing company.

“We are excited to launch Grenville and proud to be supporting a great company and team in Pliteq with our first investment,” shared Bill Tharp, Grenville CEO. “We look forward to participating in Pliteq’s rapid growth over the years to come.”

About Pliteq Inc.

Pliteq is an engineering company dedicated to providing creative solutions to structural, vibration, and sound control problems using recycled materials. Pliteq’s products are made with up to 94% recycled rubber. Using elastomer technology and intellectual property, high performance solutions are researched, developed and are deployed globally in medium and large scale multi-residential and commercial construction projects. Pliteq is committed to using resources wisely and consider the impact on the environment and health and safety in all of its design and engineering choices. For more, see www.pliteq.com

About Grenville

Grenville Strategic Royalty Corp purchases non-dilutive, revenue-based royalties in high quality private and public companies. Grenville`s royalty investments are structured to align with the interests of founders, management and shareholders by protecting the ability of the existing team to manage the business. Grenville seeks to be the catalytic capital to attract broader funding for each company they work with. For more, see www.GrenvilleSRC.com.

About GreenSky

GreenSky Capital is a boutique corporate finance advisory firm based in Toronto, delivering customized financial solutions to small and medium sized businesses. GreenSky mandates are long-term partnerships with high growth potential companies and dedicated entrepreneurs where GreenSky supports the execution of strategic transitional events. GreenSky principals bring together a unique combination of experience in operations, investment banking and private equity. As an operator’s investment bank, GreenSky has the ability to bring extensive capital markets experience into a real-world context. GreenSky is focused on business and relationship building as well as the ultimate transaction. For more see, www.greenskycapital.com.

Geoff Simonett

GreenSky Capital

(T) 416-585-7850 ext 137

(M) 416-807-7495

www.greenskycapital.com

Photo courtesy of Shutterstock.