By Sheri Kasprzak
New York, June 7 - Oceanlake Commerce Inc. priced a private placement for up to C$5.5 million and at least C$2 million.
The offering includes up to 36,666,666 units and at least 13,333,333 units at C$0.15 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$0.22 for two years.
Kingsdale Capital Markets Inc. is the placement agent.
Toronto-based Oceanlake provides mobile internet products and services to mobile operators in Asia.
| Issuer: | Oceanlake Commerce Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$5.5 million (maximum); C$2 million (minimum)
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| Units: | 36,666,666 (maximum); 13,333,333 (minimum)
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| Price: | C$0.15
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.22
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| Placement agent: | Kingsdale Capital Markets Inc.
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| Pricing date: | June 7
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| Stock symbol: | TSX Venture: OLI
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| Stock price: | C$0.14 at close June 7
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