Non-brokered deal, at C$0.22 per unit, funds marketing and advertising
By Devika Patel
Knoxville, Tenn., May 17 - Digital Shelf Space Corp. said it settled an initial tranche of a C$2.5 million non-brokered private placement of units, raising C$1.23 million. The deal priced April 21.
The company is selling 11,363,636 units of one common share and one half-share warrant at C$0.22 apiece. It sold 5,575,307 units in the first tranche.
Each whole warrant is exercisable at C$0.30 for 18 months. The strike price is a 42.86% premium to the April 20 closing share price of C$0.21.
The offering has a minimum subscription of 45,455 units.
CB Capital Partners Inc. will receive a finder's fee.
Proceeds will be used for marketing and advertising, content development and new projects, software and IT development, transaction and related expenses, working capital and general corporate purposes.
The producer of home entertainment content is based in Vancouver, B.C.
| Issuer: | Digital Shelf Space Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 11,363,636 (5,575,307 in first tranche)
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | April 21
|
| Settlement date: | May 17 (for C$1,226,568)
|
| Stock symbol: | TSX Venture: DSS
|
| Stock price: | C$0.21 at close April 20
|
| Market capitalization: | C$7.95 million
|
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