By Sheri Kasprzak
New York, Nov. 2 - AireSurf Networks Holdings Inc. said it negotiated a private placement for up to C$1.5 million.
The company plans to sell up to 15 million units at C$0.10 each.
The units are composed of one class A voting share and one warrant. The warrants allow for the purchase of another class A voting share at C$0.15 each for two years.
Proceeds will be used for working capital.
Toronto-based AireSurf is a holding company for a wireless communications local area network.
| Issuer: | AireSurf Networks Holdings Inc.
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| Issue: | Units of one class A share and one warrant
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| Amount: | C$1.5 million (maximum)
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| Units: | 15 million (maximum)
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| Price: | C$0.10
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.15
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| Pricing date: | Nov. 2
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| Stock price: | C$0.08 at close Nov. 1
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