By Devika Patel
Knoxville, Tenn., June 17 - Las Vegas From Home.com Entertainment Inc. said it completed the first tranche of a C$3 million non-brokered private placement of units, raising C$1.21 million. The deal priced May 18.
The company is selling 60 million units of one common share and one warrant at C$0.05 per unit. It sold 24.1 million units in this tranche. Each two-year warrant is exercisable at C$0.10 in the first year and at C$0.25 thereafter.
Proceeds will be used for the development and roll-out of certain products.
Based in Vancouver, B.C., Las Vegas From Home develops electronic gaming software.
| Issuer: | Las Vegas From Home.com Entertainment Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$3 million
|
| Units: | 60 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10 in the first year, C$0.25 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | May 18
|
| Settlement date: | June 17 (for C$1,205,000)
|
| Stock symbol: | TSX Venture: LVH
|
| Stock price: | C$0.065 at close May 17
|
| Market capitalization: | C$7.61 million
|
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