By Laura Lutz
Washington, March 8 - Montec Holdings plans to conduct a private placement of units for up to C$1.02 million.
The company intends to sell up to 6 million units of one share and one warrant at C$0.17 per unit. Each whole warrant will be exercisable at C$0.25 for two years.
Proceeds will be used for working capital and subsequent acquisitions.
Union Securities Ltd. will act as agent.
Settlement is expected on March 19.
Montec is a Montreal-based holding company for technology companies.
| Issuer: | Montec Holdings
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.02 million
|
| Units: | 6 million
|
| Price: | C$0.17
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Union Securities Ltd.
|
| Pricing date: | March 8
|
| Settlement date: | March 19
|
| Stock symbol: | TSX Venture: MTE
|
| Stock price: | C$0.125 at close March 8
|
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