Deal funds working capital; IBS Capital is the sole placement agent
By Devika Patel
Knoxville, Tenn., Oct. 25 - Extenway Solutions Inc. said it settled the initial tranche of a C$2.5 million private placement of stock on Oct. 19, raising the full C$2.5 million. IBS Capital, senc is the agent for the deal, which priced July 25 and was amended on Oct. 14.
The company sold 19,230,770 common shares at C$0.13 apiece. The price per share is a 23.53% discount to the July 23 closing share price of C$0.17.
The shares originally were priced at C$0.17 apiece.
Proceeds will be used for working capital.
Montreal-based Extenway provides services to the hospitality industry.
| Issuer: | Extenway Solutions Inc.
|
| Issue: | Common shares
|
| Amount: | C$2.5 million
|
| Units: | 19,230,770
|
| Price: | C$0.13
|
| Warrants: | No
|
| Agent: | IBS Capital, senc
|
| Pricing date: | July 25
|
| Revised: | Oct. 14
|
| Settlement date: | Oct. 19
|
| Stock symbol: | TSX Venture: EY
|
| Stock price: | C$0.17 at close July 23
|
| Market capitalization: | C$14.48 million
|
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