By Sheri Kasprzak
New York, Aug. 23 - Kangaroo Media Inc. said it has closed a C$5 million private placement.
The company sold 10,638,299 shares at C$0.47 each to Caisse de depot et placement du Quebec, Sipar Inc. and Corporation de gestion de placements Claret.
Each share includes one warrant exercisable for another share at C$0.66 each for five years.
The proceeds will be used for working capital.
Montreal-based Kangaroo produces handheld devices for spectators at live events.
| Issuer: | Kangaroo Media Inc.
|
| Issue: | Stock
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| Amount: | C$5 million
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| Shares: | 10,638,299
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| Price: | C$0.47
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| Warrants: | For 10,638,299 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | C$0.66
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| Investors: | Caisse de depot et placement du Quebec, Sipar Inc. and Corporation de gestion de placements Claret
|
| Settlement date: | Aug. 23
|
| Stock price: | C$0.68 at close Aug. 23
|
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