Alphinat seals C$1 million placement of units with C$100,000 tranche

Offering consists of units with common shares, eighth-share warrants

By Devika Patel

Knoxville, Tenn., Feb. 11 - Alphinat Inc. said it settled the third and final tranche of a private placement of units. The deal raised the expected C$1 million in three tranches: The company took in C$762,500 on Dec. 22, C$137,500 on Jan. 28 and C$100,000 in the latest tranche.

The company sold 10 million units of one common share and one eighth-share warrant at C$0.10 apiece. It sold 7,625,000 units in the first tranche, 1,375,000 units in the second and 1 million units in the third. Each whole warrant is exercisable at C$0.12 until for two years.

The strike price is a 33.33% premium to the Dec. 21 closing share price of C$0.09.

Proceeds will be used to fund the expansion of the sales and marketing team as well as for working capital.

Based in Montreal, Alphinat is a software company.

Issuer:	Alphinat Inc.
Issue:	Units of one common share and an eighth -share warrant
Amount:	C$1 million
Units:	10 million (7,625,000 in the first tranche, 1,375,000 in the second, 1 million in the third)
Price:	C$0.10
Warrants:	One eighth-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.12
Settlement dates:	Dec. 22 (for C$762,500), Jan. 28 (for C$137,500), Feb. 11 (for C$100,000)
Stock symbol:	TSX Venture: NPA
Stock price:	C$0.09 at close Dec. 22
Market capitalization:	C$4.65 million

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