By Sheri Kasprzak
Atlanta, Jan. 19 - MedcomSoft Inc. will raise C$1.5 million in a private placement of units, a market source said.
The company plans to sell 3 million units at C$0.50 each. The units include one share and one quarter-share warrant.
The whole warrants allow for an additional share at C$0.65 each for two years.
The offering is scheduled to close Jan. 31.
Loewen, Ondaatje, McCutcheon Ltd. will be the placement agent in the deal.
MedcomSoft, based in Toronto, designs, develops and markets software for the healthcare industry. It plans to use the proceeds for working capital.
| Issuer: | MedcomSoft Inc.
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| Issue: | Units of one share and one quarter-share warrant
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| Amount: | C$1.5 million
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| Shares: | 3 million
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| Price: | C$0.50
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| Warrants: | One quarter-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.65
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| Placement agent: | Loewen, Ondaatje, McCutcheon Ltd.
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| Pricing date: | Jan. 19
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| Stock price: | C$0.50 at close Jan. 18
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