By Laura Lutz
Des Moines, June 7 - Oceanlake Commerce Inc. settled a private placement of units for C$2,823,049.
The company sold 6,273,443 units of one share and one half-share warrant at C$0.45 per unit. Each whole warrant will be exercisable at C$0.55 until June 1, 2009.
Kingsdale Capital Markets Inc. acted as agent.
The company will use the proceeds to re-acquire the remaining 49.9% interest in OceanLake Asia and for working capital.
Oceanlake is a wireless technology company based in Concord, Ont.
| Issuer: | Oceanlake Commerce Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,823,049
|
| Units: | 6,273,443
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 1, 2009
|
| Warrant strike price: | C$0.55
|
| Agent: | Kingsdale Capital Markets Inc.
|
| Settlement date: | June 7
|
| Stock symbol: | TSX Venture: OLI
|
| Stock price: | C$0.52 at close June 6
|
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