By Laura Lutz
Des Moines, July 23 - Streetlight Intelligence Inc. arranged a private placement of units for up to C$3.276 million.
The company plans to sell up to 3.64 million units of one share and one half-share warrant at C$0.90 per unit. Each whole warrant will be exercisable at C$1.20 for two years.
Clarus Securities Inc. acted as agent for 3.34 million of the units. The remainder was non-brokered.
Settlement is expected on July 31.
Proceeds will be used for product commercialization, working capital and general corporate purposes.
Based in Victoria, B.C., Streetlight produces technology to remotely program streetlights.
| Issuer: | Streetlight Intelligence Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.276 million
|
| Units: | 3.64 million
|
| Price: | C$0.90
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.20
|
| Agent: | Clarus Securities Inc. (for 3.34 million units); non-brokered (for 300,000 units)
|
| Pricing date: | July 23
|
| Settlement date: | July 31
|
| Stock symbol: | TSX Venture: SLQ
|
| Stock price: | C$0.98 at close July 20
|
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