Design West Subsidiary Files for Stock Offering
Inocan Technologies Ltd., a subsidiary of Design West Inc. in Irvine, has filed for a $315,000 public stock offering with the Superintendent of Brokers for British Columbia and the Vancouver Stock Exchange.
The company, formed to make and sell a water purification system designed by Design West, expects to sell 350,000 shares of common stock at 90 cents each. Inocan now is 46%-owned by Design West and Inotek Inc., itself a joint venture product-development company controlled by Design West.
The majority of the proceeds from the proposed stock sale will be used to manufacture and test a residential water purifying pump and system called “Tandem-Flo System,” the company said.