By Sheri Kasprzak
Atlanta, Jan. 14 - Lemontonic Inc. concluded a private placement for C$5,175,000, through exercise of the greenshoe, C$175,000 more than the originally announced offering.
The company issued 34.5 million class A shares at C$0.15.
Placement agent Canaccord Capital Corp. exercised an over-allotment option for 1.2 million shares.
Lemontonic is a Toronto-based networking software company. The company plans to use the proceeds from its private placement for marketing, product research and development, payment of outstanding accounts and general working capital.
| Issuer: | Lemontonic Inc.
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| Issue: | Stock
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| Amount: | C$5,175,000
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| Shares: | 34.5 million class A shares
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| Price: | C$0.15
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| Warrants: | No
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| Placement agent: | Canaccord Capital Ltd.
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| Announcement date: | Nov. 2
|
| Settlement date: | Jan. 14
|
| Stock price: | C$0.19 at close Nov. 2
|
| Stock price: | C$0.27 at close Jan. 14
|
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