Deal sells shares at C$0.62 apiece to finance working capital purposes
By Devika Patel
Knoxville, Tenn., April 25 - Ergoresearch Ltd. said it completed a C$6.36 million private placement of stock.
The company sold 10,258,065 common shares at C$0.62 per share. The price per share is a 4.62% discount to the April 24 closing share price of C$0.62.
Proceeds will be used for working capital purposes.
The manufacturer of foot orthotics and specialty orthotics is based in Laval, Quebec.
| Issuer: | Ergoresearch Ltd.
|
| Issue: | Common stock
|
| Amount: | C$6.36 million
|
| Shares: | 10,258,065
|
| Price: | C$0.62
|
| Warrants: | No
|
| Settlement date: | April 24
|
| Stock symbol: | TSX Venture: ERG
|
| Stock price: | C$0.65 at close April 24
|
| Market capitalization: | C$39.36 million
|
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