By Sheri Kasprzak
New York, March 27 - Kasten Chase Applied Research Ltd. said it has secured a C$1.5 million credit facility.
The facility comes with warrants for up to 2,875,000 shares, exercisable at C$0.30 each for 18 months. The warrants may be called at C$0.21 each.
The credit facility will be convertible into equity on the same terms as any future equity financing Kasten Chase undertakes in the future.
Toronto-based Kasten Chase develops encryption and management solutions for data storage.
| Issuer: | Kasten Chase Applied Research Ltd.
|
| Issue: | Credit facility
|
| Amount: | C$1.5 million
|
| Conversion price: | Convertible on the same terms as any future equity financing
|
| Warrants: | For 2,875,000 shares
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Settlement date: | March 27
|
| Stock symbol: | Toronto: KCA
|
| Stock price: | C$0.18 at close March 27
|
|
|
© 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.
