By Laura Lutz
Des Moines, March 30 - Mitec Telecom Inc. completed a private placement of units for C$3.47 million.
The company sold about 19 million units of one share and one warrant at C$0.18 per unit. Each warrant will be exercisable at C$0.22 for two years.
Expiry of the warrants may be accelerated if the closing price of the company's shares is at least C$0.35 for 20 consecutive trading days.
Howson Tattersall Investment Counsel Ltd. bought 3.5 million units in the deal.
Based in Montreal, Mitec manufactures radio frequency products.
| Issuer: | Mitec Telecom Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3.47 million
|
| Units: | 19 million (approximate)
|
| Price: | C$0.18
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.22
|
| Investor: | Howson Tattersall Investment Counsel Ltd.
|
| Settlement date: | March 30
|
| Stock symbol: | Toronto: MTM
|
| Stock price: | C$0.19 at close March 30
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
