Units offering finances daily operations, hiring of expert personnel
By Devika Patel
Knoxville, Tenn., June 21 - Freeport Capital Inc. said it settled a C$1.2 million private placement of units.
The company sold 2 million units of one common share and 0.75 warrants at C$0.60 per unit.
Each whole warrant is exercisable at C$1.25 for 18 months. The strike price reflects a 184.09% premium to the June 20 closing share price of C$0.44.
"We are very excited to have secured an important commitment at this stage of the corporation's growth," president Michele Tasillo said in a press release. "This funding gives us the secured capital for daily operations, hiring of expert personnel and maneuverability to acquire needed equipment to manage and grow our Data-Center. The next 12 months are crucial; as we commercialize and deploy our products and services globally, we can be assured our cash-flow is available to meet current and future needs."
Based in Montreal, Freeport Capital provides internet-based point-of-sale technology solutions for businesses and consumers.
| Issuer: | Freeport Capital Inc.
|
| Issue: | Units of one common share and 0.75 warrants
|
| Amount: | C$1.2 million
|
| Units: | 2 million
|
| Price: | C$0.60
|
| Warrants: | 0.75 warrants per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.25
|
| Settlement date: | June 21
|
| Stock symbol: | CNSX: FAS
|
| Stock price: | C$0.44 at close June 20
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