VANCOUVER, BRITISH COLUMBIA - (Marketwire - July 23, 2008) - NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Functional Technologies Corp. (TSX VENTURE:FEB) announces that it will be filing with applicable securities regulatory authorities in Canada and the TSX Venture Exchange relevant materials to commence an offering of units (the "Units") by way of a rights offering. Subject to regulatory approval, Functional Technologies intends to issue to each shareholder in permitted jurisdictions other than the United States, as of a record date to be announced, one right for each common share held by such shareholder. Six rights will entitle the holder to acquire one Unit at a price of $0.85 per Unit for maximum proceeds to Functional Technologies of approximately $2,800,000....
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