By Susanna Moon
Chicago, July 20 - Dussault Apparel Inc. said it would sell up to $5 million in a private placement of units.
The company will issue up to 5 million units of one share and one non-transferable warrant. Each warrant is exercisable at $1.25 for 24 months.
Proceeds will be used for acquisitions, working capital, growing market share and building the company's brand, according to a press release.
Dussault is an apparel company based in Los Angeles.
Issuer Dussault Apparel Inc.
| Issue: | Units of one share and one warrant
|
| Amount: | $5 million
|
| Units: | 5 million
|
| Warrants: | One per unit
|
| Warrant expiration: | 24 months
|
| Warrant strike price: | $1.25
|
| Announcement date: | July 19
|
| Stock symbol: | OTCBB: DUSS
|
| Stock price: | $1.31 at close June 25 (last trade)
|
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