By Laura Lutz
Washington, Jan. 25 - OHS Capital Corp. intends to raise C$2.25 million from private placements of shares.
Royal Bank of Canada has agreed to purchase 14 million shares at C$0.15 each, for proceeds of C$2.1 million. OHS also plans to sell 1 million shares at the same price on a non-brokered basis.
Settlement of the placements, which is expected on Feb. 1, is conditioned on OHS completing its proposed merger with Pay Linx Corp. Closing of that transaction is contingent upon the TSX Venture Exchange receiving a final report, closing of the placement and review of the company's filing statement.
Proceeds will be used for working capital, sales and administrative expenses and the development of the Pay Linx technology.
OHS is a capital pool company with headquarters in Calgary, Alta. Based in Edmonton, Alta., Pay Linx provides payment processing software.
| Issuer: | OHS Capital Corp.
|
| Issue: | Shares
|
| Amount: | C$2.25 million
|
| Shares: | 15 million
|
| Price: | C$0.15
|
| Warrants; | No
|
| Agent: | Royal Bank of Canada (for 14 million shares); non-brokered (for 1 million shares)
|
| Pricing date: | Jan. 25
|
| Settlement date: | Feb. 1
|
| Stock symbol: | TSX Venture: OCC.P
|
| Stock price: | C$0.15 at close Jan. 24
|
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