Non-brokered offering sells 12.5 million common shares at C$0.08 each
By Devika Patel
Knoxville, Tenn., May 9 - Essex Angel Capital Inc. said it plans a C$1 million non-brokered private placement of stock.
The company will sell 12.5 million common shares at C$0.08 apiece, a 14.29% premium to the May 8 closing share price of C$0.07.
Settlement is expected June 20.
Proceeds will be used to identify, evaluate and finance investments and for working capital and general corporate purposes.
The venture capital company is based in Windsor, Ont.
| Issuer: | Essex Angel Capital Inc.
|
| Issue: | Common shares
|
| Amount: | C$1 million
|
| Shares: | 12.5 million
|
| Price: | C$0.08
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 9
|
| Settlement date: | June 20
|
| Stock symbol: | TSX Venture: EXC
|
| Stock price: | C$0.07 at close May 8
|
| Market capitalization: | C$2.52 million
|
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