M Partners, Versant Partners sign on as agents for brokered offering
By Susanna Moon
Chicago, July 5 - Monexa Technologies Corp. said it arranged a private placement with M Partners Inc. and Versant Partners Inc. as agents to issue units of one share and one half-share warrant for proceeds of up to C$3 million.
The company will sell up to 23,076,923 units at C$0.13 each. Each warrant will be exercisable at C$0.20 per share for 12 months from closing.
The strike price is a 33.33% premium to the company's closing price on June 29.
Proceeds will be used for working capital and general corporate purposes.
Monexa is a Vancouver, B.C.-based company that provides billing, payments processing, call center and internet service provider services.
Issuer: | Monexa Technologies Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$3 million
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Units: | 23,076,923
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Price: | C$0.13
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Warrants: | One half-share per unit
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Warrant strike price: | C$0.20
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Warrant expiration: | 12 months
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Agents: | M Partners Inc. and Versant Partners Inc.
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Pricing date: | July 5
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Stock symbol: | Canada: MXA
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Stock price: | C$0.15 at close June 29
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Market capitalization: | C$6.68 million
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