Visualant Incorporated (OTCBB:VSUL) announced that it intends to conduct a private placement of common shares for gross proceeds of up to $3,000,000 on April 4, 2012. The shares will be issued to new investor, Sumitomo Precision Products Co., Ltd. The company will issue the shares at a price no more than $0.20 per share. On May 3, 2012, the company announced that the transaction is expected to close in May 2012. On May 31, 2012, the company signed the stock purchase agreement with the investor. The company will issue 17,307,693 at $0.13 per share for gross proceeds of $2,250,000. The transaction is expected to close before June 30, 2012. Ronald P. Erickson will serve as legal advisor to the company. James F. Biagi, Jr. from Monahan & Biagi PLLC will serve as legal advisor to Sumitomo Precision Products Co., Ltd. As a result of the transaction, the investor will acquire a 22.1% stake in the company. The securities will be issued pursuant to Regulation D.