By Sheri Kasprzak
New York, March 3 - MicroPlanet Technology Corp. said it has finished its previously announced private placement for C$3,350,250.
The company issued 4,467,000 units at C$0.75 apiece.
The units consist of one share and one half-share warrant with each whole warrant exercisable at C$1.00 for 18 months.
The deal priced on Jan. 27 as a C$10 million offering of up to 13,333,333 units.
Magna Partners Ltd. was the placement agent.
Proceeds will be used for the company's business strategy and for working capital.
Based in Seattle, MicroPlanet develops distributed-energy technologies.
| Issuer: | MicroPlanet Technology Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3,350,250
|
| Units: | 4,467,000
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.00
|
| Placement agent: | Magna Partners Ltd.
|
| Pricing date: | Jan. 27
|
| Settlement date: | March 3
|
| Stock symbol: | TSX Venture: MP
|
| Stock price: | C$0.90 at close Jan. 27
|
| Stock price: | C$0.65 at close March 3
|
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