Deal sells 100 million units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., Oct. 2 - ePals Corp. said it plans a C$10 million non-brokered private placement of units.
The company will sell 100 million units of one common share and one half-share warrant at C$0.10 per unit.
Each whole warrant is exercisable at C$0.10 until March 31, 2014. The strike price is a 42.86% premium to the Oct. 1 closing share price of C$0.07.
Investors include GSV Capital Corp. and Miles Gilburne.
Proceeds will be used for general corporate purposes and working capital.
The education media company is based in Washington, D.C.
| Issuer: | ePals Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 100 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | March 31, 2014
|
| Warrant strike price: | C$0.10
|
| Agents: | Non-brokered
|
| Investors: | GSV Capital Corp. and Miles Gilburne
|
| Pricing date: | Oct. 2
|
| Stock symbol: | TSX Venture: SLN
|
| Stock price: | C$0.07 at close Oct. 1
|
| Market capitalization: | C$7.84 million
|
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