By Devika Patel
Knoxville, Tenn., July 7 - egX Group Inc. said it took in C$1.32 million in a non-brokered private placement of units. The deal priced for C$1.5 million on June 3.
The company sold 8,799,982 units of one common share and one non-transferable warrant at C$0.15 per unit. It planned to sell 10 million units.
Each warrant will be exercisable at C$0.25 for one year, subject to acceleration under certain conditions.
Proceeds will be used for the continuing deployment of egX Canada and for ongoing operations.
Based in Vancouver, B.C., the company is developing egX, a global securities exchange system designed for the listing and trading of real estate securities and related financial products.
| Issuer: | egX Group Inc.
|
| Issue: | Units of one common share and one non-transferable warrant
|
| Amount: | C$1,319,997
|
| Units: | 8,799,982
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | June 3
|
| Settlement date: | July 3
|
| Stock symbol: | TSX Venture: GFG
|
| Stock price: | C$0.18 at close June 2
|
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