By Laura Lutz
Des Moines, Aug. 1 - Decision Dynamics Technology Ltd. raised C$49,999.80 from a small third tranche of a C$3 million private placement of units, bringing the total raised so far to C$2,551,500.
In total, the company plans to sell up to 10 million units of one share and one half-share warrant at C$0.30 per unit. Each whole warrant will be exercisable at C$0.40 for one year.
Canaccord Adams is the agent for part of the placement, and the remainder is non-brokered.
Investors in the non-brokered placement are expected to include Mosaic Venture Partners, Edgestone Capital Venture Fund, and several of the directors and members of senior management of the company.
The first tranche, which was non-brokered, consisted of 2,706,666 units. It settled on June 12.
The second tranche consisted of 5,631,667 units and settled on June 29. It included both brokered and non-brokered portions.
The third tranche consisted of 166,666 units. That amount "would have been included in the second tranche but was delayed due to minor issues," according to a news release.
The company did not say whether the units in the third tranche were brokered.
The company will use the proceeds for sales and marketing and to improve its product value.
Decision Dynamics is a software company based in Calgary, Alta.
| Issuer: | Decision Dynamics Technology Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Agent: | Canaccord Adams (for part); non-brokered (for part, including first tranche)
|
| Investors: | Mosaic Venture Partners, Edgestone Capital Venture Fund, others (for non-brokered part)
|
| Pricing date: | June 1
|
| Settlement date: | June 12 (for 2,706,666 units); June 29 (for 5,631,667 units); Aug. 1 (for 166,666 units)
|
| Stock symbol: | TSX Venture: DDY
|
| Stock price: | C$0.30 at close May 31
|
| Stock price: | C$0.28 at close June 12
|
| Stock price: | C$0.27 at close June 29
|
| Stock price: | C$0.24 at close Aug. 1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
