By Devika Patel
Knoxville, Tenn., April 12 - AgriMarine Holdings Inc. said it has increased a non-brokered private placement of units to C$5 million from C$3 million due to investor demand. The deal priced April 1.
The company will now sell 25 million units of one common share and one half-share warrant at C$0.20 per unit. The whole warrants are exercisable at C$0.30 each for two years.
Proceeds will be used for working capital and general corporate purposes.
The Vancouver, B.C., company has developed technology for the rearing of salmon and other finfish in floating solid wall closed containment systems that allows for the control of the rearing water environment.
| Issuer: | AgriMarine Holdings Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Units: | 25 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | April 1
|
| Upsized: | April 12
|
| Stock symbol: | TSX Venture: FSH
|
| Stock price: | C$0.24 at close March 31
|
| Market capitalization: | C$7.43 million
|
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