By Devika Patel
Knoxville, Tenn., Feb. 12 - Copernic Inc. said it plans a $1.4 million private placement of stock.
The company will sell 350,000 common shares to Newlook Industries Corp.
The company also said it plans to purchase 70.1% of the common shares of Sunbay Canada Corp. If Copernic decides not to purchase the Sunbay Canada shares, then Newlook will buy 500,000 shares for $2 million.
Located in Quebec, Copernic is an internet search technology provider.
| Issuer: | Copernic Inc.
|
| Issue: | Common stock
|
| Amount: | $1.4 million
|
| Shares: | 350,000
|
| Warrants: | No
|
| Investor: | Newlook Industries Corp.
|
| Pricing date: | Feb. 12
|
| Stock symbol: | Nasdaq: CNIC
|
| Stock price: | $2.93 at close Feb. 12
|
| Market capitalization: | $6.12 million
|
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