Company sells 64,285,714 shares at C$0.14 per share, a 16.67% premium
By Devika Patel
Knoxville, Tenn., April 25 - Look Communications Inc. said it will conduct a C$9 million private placement of stock.
The company will sell 64,285,714 shares. The shares will be sold at C$0.14 apiece, which is a 16.67% premium to the April 24 closing share price of C$0.12.
The Toronto-based company, which has not carried on an active business since the sale of its wireless spectrum business in 2009, is proposing a change of business by acquiring all outstanding shares of Sunwave Gas & Power Inc., a Toronto-based provider of energy commodity products and services.
| Issuer: | Look Communications Inc.
|
| Issue: | Shares
|
| Amount: | C$9 million
|
| Shares: | 64,285,714
|
| Price: | C$0.14
|
| Warrants: | No
|
| Pricing date: | April 25
|
| Stock symbol: | TSX Venture: LOK
|
| Stock price: | C$0.12 at close April 24
|
| Market capitalization: | C$16.07 million
|
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