By Sheri Kasprzak
Atlanta, Jan. 19 - Omni-Lite Industries Canada Inc. will hit the private placement market with a C$1.8 million offering of units.
The deal includes 1.5 million units at C$1.20 each. The units consist of one share and one half-share warrant.
The whole warrants allow for an additional share at C$1.60 each for 18 months.
The offering is expected to close Feb. 8.
Acumen Capital Finance Partners Ltd. is the placement agent in the deal.
Omni-Lite, based in Cerritos, Calif., is a technology company that develops and manufactures components used by several U.S.-based retail manufacturers. It plans to use the proceeds from the offering for working capital and general corporate purposes.
| Issuer: | Omni-Lite Industries Canada Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.8 million
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| Units: | 1.5 million
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| Price: | C$1.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$1.60
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| Placement agent: | Acumen Capital Finance Partners Ltd.
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| Pricing date: | Jan. 18
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| Settlement date: | Feb. 8
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| Stock price: | C$1.35 at close Jan. 18
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