Investor North-America Vanstar also to get warrants for 500,000 shares
By Devika Patel
Knoxville, Tenn., Feb. 3 - Epic Data International Inc. said it secured a loan agreement with North-America Vanstar Investments Ltd. The loan is for C$2 million.
The five-year loan will bear interest at 5% per year.
North-America Vanstar also will receive warrants for 500,000 shares. Each warrant is exercisable until the earlier of five years or when the loan is repaid. The exercise price will be equal to the last closing price of the common shares prior to settlement.
Proceeds will be used to support the company's sales and marketing operations and development of research and development facilities in China.
Based in Richmond, B.C., Epic Data produces automatic identification and data-collection technologies.
| Issuer: | Epic Data International Inc.
|
| Issue: | Loan
|
| Amount: | C$2 million
|
| Maturity: | Five years
|
| Coupon: | 5%
|
| Warrants: | For 500,000 shares
|
| Warrant expiration: | Earlier of five years or when the loan is repaid
|
| Warrant strike price: | Equal to the last closing price of the common shares prior to settlement
|
| Investor: | North-America Vanstar Investments Ltd.
|
| Pricing date: | Feb. 3
|
| Stock symbol: | TSX Venture: EKD
|
| Stock price: | C$0.10 at close Feb. 3
|
| Market capitalization: | C$2.63 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
