Non-brokered deal's proceeds earmarked for general corporate purposes
By Devika Patel
Knoxville, Tenn., April 2 - OneMove Technologies Inc. said it completed a non-brokered private placement of units, raising C$1.15 million. The deal priced for C$1.2 million on Feb. 29.
The company sold 22.92 million units of one common share and one warrant at C$0.05 per unit.
The warrants are each exercisable for three years. The strike price in the first year, C$0.10 reflects a 100% premium to the Feb. 28 closing share price of C$0.05. The strike price in the second year of C$0.12 reflects a 140% premium to the Feb. 28 closing share price. The strike price in the third year of C$0.15 reflects a 200% premium to the Feb. 28 closing share price.
Stuart Bonner invested C$65,000, and Plantro Ltd. invested C$1 million.
Proceeds will be used for general corporate purposes.
OneMove is a moving solutions company with headquarters in Vancouver, B.C., and London.
| Issuer: | OneMove Technologies Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,146,000
|
| Units: | 22.92 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.10 in the first year, C$0.12 in the second year, C$0.15 in the third year
|
| Agent: | Non-brokered
|
| Investors: | Stuart Bonner (for C$65,000) and Plantro Ltd. (for C$1 million)
|
| Pricing date: | Feb. 29
|
| Settlement date: | April 2
|
| Stock symbol: | TSX Venture: OM
|
| Stock price: | C$0.05 at close Feb. 28
|
| Market capitalization: | C$4.21 million
|
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