By Sheri Kasprzak
New York, Dec. 22 - HydraLogic Systems Inc. said it has upsized to C$5 million its previously announced C$4 million private placement.
The company now plans to sell 10 million units at C$0.50 each.
The units include one share and one half-share warrant. The whole warrants allow for the purchase of another at C$0.70 each for two years.
Kingsdale Capital Markets Inc. is the placement agent.
The deal was first announced Oct. 7 as a C$4 million offering of up to 8 million units under the same terms.
Proceeds will be used for the company's acquisition of Sager Industries Ltd. and for general corporate purposes.
Based in Barrie, Ont., HydraLogic develops technologies that replace harmful pollutants with non-toxic organic solutions.
| Issuer: | HydraLogic Systems Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5 million
|
| Units: | 10 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
| Placement agent: | Kingsdale Capital Markets Inc.
|
| Pricing date: | Oct. 7
|
| Upsized: | Dec. 22
|
| Stock price: | C$0.51 at close Oct. 7
|
| Stock price: | C$0.51 at close Dec. 21
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
