By Laura Lutz
Washington, Feb. 9 - Lyrtech Inc. intends to raise up to C$8 million from a private placement of units.
The company plans to sell up to 100 million units of one share and one warrant at C$0.08 per unit. Each whole warrant will be exercisable at C$0.105 for five years.
Paradigm Capital Inc., Quest Securities Corp. and Dundee Securities Corp. will act as agents.
Proceeds will be used to reduce debt and for working capital.
Based in Quebec City, Lyrtech develops and manufactures signal processing technology.
| Issuer: | Lyrtech Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$8 million
|
| Units: | 100 million
|
| Price: | C$0.08
|
| Warrants: | One per unit
|
| Warrant expiration: | Five years
|
| Warrants strike price: | C$0.105
|
| Agents: | Paradigm Capital Inc., Quest Securities Corp., Dundee Securities Corp.
|
| Pricing date: | Feb. 9
|
| Stock symbol: | TSX Venture: LYT
|
| Stock price: | C$0.14 at close Feb. 8
|
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