By Sheri Kasprzak
Atlanta, April 18 - KnightHawk Inc. said it has closed a downsized private placement for C$450,000.
The company sold 900,000 units at C$0.50 each.
The units are comprised of one share and one warrant. The warrants provide for an additional share at C$0.60 each for 18 months. The expiry of the warrants may be accelerated to 90 days if KnightHawk's stock trades above C$0.75 during any 30-day period.
The offering was first announced Feb. 24 for up to C$1 million, comprising up to 2 million units under the same terms.
Research Capital Corp. was the placement agent.
Based in Toronto, KnightHawk provides contract rail and air cargo services between Canada and the United States.
| Issuer: | KnightHawk Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$450,000
|
| Units: | 900,000
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
| Placement agent: | Research Capital Corp.
|
| Pricing date: | Feb. 24
|
| Settlement date: | April 15
|
| Stock price: | C$0.50 at close Feb. 24
|
| Stock price: | C$0.45 at close April 15
|
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