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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CONFORMED COPY
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) September 3, 1998
POLYMER SOLUTIONS INC.
(Exact name of Registrant as specified in its charter)
Nevada U.S.A. 0-18583 88-0360526
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(State or other jurisdiction (Commission file number) (IRS Employer
of incorporation) Identification No.)
Suite 300, 1055 West Hastings Street, Vancouver, British Columbia,
CANADA V6E 2E9
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(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (604) 683-3473
not applicable
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(Former name or former address, if changed since last report)
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ITEM 5. REGISTRANT REPORT OF ANY OTHER EVENT WHICH IT DEEMS OF IMPORTANCE TO
ITS SECURITY HOLDERS.
On September 3, 1998 the Company completed a Private Placement with the
following 3 placees and issued an aggregate of 400,000 in Special Warrants. Each
Special Warrant purchased at a price of Cdn$1.00 was exercised into one unit
consisting of one common share and one common share purchase warrant of the
Issuer. Each share purchase warrant will be non-transferrable and will entitle
the holder to purchase one-half of one additional common share until July 15,
2000, at a purchase price of $1.00 per share in the first twelve months and
thereafter at a price of $1.25 per share. Commission entitled the Broker to
receive 8% of the number of Special Warrants placed, payable in Special
Warrants. The Agent received Agent's Special Warrants equal to 20% of the
Special Warrants Placed. The Agent's Special Warrant can be exercised into one
common share upon payment of $1.00 in the year following closing and $1.25 in
the second year.
<TABLE>
<CAPTION>
NAME & ADDRESS NUMBER OF SHARES PRICE PER HOLD PERIOD EXPIRY
SHARE CDN
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<S> <C> <C> <C> <C>
Pryde Capital Corp. 1 x 100,000 common shares & $1.00 November 14, 1998
2111 Jordan Drive warrants to purchase 50,000 common
Burnaby, B.C. V5B 4G1 shares
Jordan Enterprises Limited
15399 - 102A Avenue, Suite 101 1 x 200,000 common shares & $1.00 November 14, 1998
Surrey,,B.C. V3R 7K1 warrants to purchase 100,000
common shares
Jordan Development Corporation Ltd.
#401-1050 West 2nd Avenue 1 x 100,000 common shares & $1.00 November 14, 1998
Vancouver, B.C. V6H 3Y4 warrants to purchase 50,000 common
shares
Brink, Hudson & Lefever Ltd. 1 x 32,000 common shares & warrants 8% of November 14, 1998
595 Burrard Street, Suite #1200 to purchase 16,000 common shares Special
Vancouver, B.C. V7X 1J1 Warrants
Brink, Hudson & Lefever Ltd. Agents Special Warrants to purchase 20% of November 14, 1998
595 Burrard Street, Suite #1200 80,000 common shares Special
Vancouver, B.C. V7X 1J1 Warrants
Totals 432,000 common shares & warrants to
3 Placees purchase 296,000 common shares
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
POLYMER SOLUTIONS, INC.
Date September 18, 1998 /s/ Gordon L. Ellis
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(Signature)
Gordon L. Ellis, Chairman of the Board
