By Laura Lutz
Des Moines, Jan. 18 - Musicrypt Inc. set the pricing in its previously announced C$10 million private placement of stock.
The company plans to sell up to 40 million shares at C$0.25 each.
Sprott Securities Inc. will act as agent.
The deal was announced on Jan. 3
Proceeds will be used to fund the company's European market expansion with Adstream and for U.S. music-delivery market growth, advertising and enforcement of intellectual property rights.
Based in Toronto, Musicrypt provides digital delivery systems for the music industry.
| Issuer: | Musicrypt Inc.
|
| Issue: | Shares
|
| Amount: | C$10 million
|
| Shares: | 40 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Sprott Securities Inc.
|
| Announcement date: | Jan. 3
|
| Pricing date: | Jan. 18
|
| Stock symbol: | TSX Venture: MCT
|
| Stock price: | C$0.295 at close Jan. 18
|
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