Proceeds for 3D Image content creation and working capital
By Melissa Kory
Cleveland, May 16 - Arius3D Corp. announced that, subject to TSX Venture Exchange approval, it has arranged a non-brokered private placement of up to 10,103,620 units, or C$1,212,434.
The units will be sold at C$0.12 per unit, a 7.69% discount from the May 13 closing price of C$0.13.
Each unit consists of one common share and one transferable common share purchase warrant. Each warrant will be exercisable to acquire one common share at C$0.16 for five years.
Arius3D has agreed to pay a finders' fee of 7% of the gross proceeds and finders' warrants equal to 7% of the units sold by qualified finders. Each finders' warrant will be non-transferable and exercisable to acquire one common share at C$0.16 per share for five years.
The proceeds of the offering will be used for 3D Image content creation and working capital.
Arius3D is a Mississauga, Ont.-based creator of digital imaging solutions that enable organizations to research, present and share physical objects in digital form.
| Issuer: | Arius3D Corp
|
| Issue: | Units of one common share and one share warrant
|
| Amount: | Up to C$1,212,434
|
| Units: | Up to 10,103,620
|
| Price: | C$0.12
|
| Warrants: | One share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.16
|
| Agent: | Non-brokered
|
| Pricing date: | May 16
|
| Stock symbol: | TSX Venture: LZR
|
| Stock price: | C$0.13 at close May 13
|
| Market capitalization: | C$16.08 million
|
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