By Sheri Kasprzak
Atlanta, Dec. 22 - Icefloe Technologies Inc. said late Tuesday it plans to hit the private placement market with a C$2 million offering.
The company plans to sell at least 2,666,666 units at C$0.75 each.
The units are comprised of one share and one warrant. The warrants allow for an additional share at C$1.25 each for two years.
Five parties related to the company have already agreed to buy a portion of the offering. David Minas will buy 27,642 of the units, Philip Carter will buy 44,612 units, Wayne Newson will buy 120,000 units, J. Robert Furse will buy 139,891 units and Michael Gerrior will buy 5,333 units.
Based in Toronto, Icefloe develops and commercializes a chilling technology used for serving draught beers.
| Issuer: | Icefloe Technologies Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2 million
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| Shares: | 2,666,666 units
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| Price: | C$0.75
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.25
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| Investors: | David Minas, Philip Carter, Wayne Newson, J. Robert Furse, Michael Gerrior
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| Announcement date: | Dec. 21
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| Stock price: | C$1.25 at close Dec. 21
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