By Sheri Kasprzak
New York, April 3 - Arise Technologies Corp. said it is planning to close two private placements totaling C$3,835,000.
In the brokered deal, the company plans to issue 6,666,667 units at C$0.30 each.
The units consist of one share and one half-share warrant, with each whole warrant exercisable at C$0.35 for two years.
Dominick & Dominick Securities Inc. is the placement agent.
The non-brokered offering includes 6,116,667 units under the same terms.
The non-brokered portion of the deal was scheduled to close Monday and the brokered portion on April 5.
Separately, Arise converted $439,959 in debentures into shares at C$0.25 each and $100,000 of unsecured notes into shares at C$0.75 each.
Arise, based in Kitchener, Ont., develops products using solar energy.
| Issuer: | Arise Technologies Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 6,666,667
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Placement agent: | Dominick & Dominick Securities Inc. (for C$1,835,000)
|
| Announcement date: | April 3
|
| Settlement date: | April 5
|
| Stock symbol: | TSX Venture: APV
|
| Stock price: | C$0.50 at close April 3
|
|
|
| Issuer: | Arise Technologies Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,835,000
|
| Units: | 6,116,667
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Placement agent: | Non-brokered
|
| Announcement date: | April 3
|
| Settlement date: | April 3
|
| Stock symbol: | TSX Venture: APV
|
| Stock price: | C$0.50 at close April 3
|
|
|
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