By Devika Patel
Knoxville, Tenn., Jan. 28 - Opsens Inc. said it plans a private placement of units for between C$3.5 million and C$4.5 million. M Partners Inc. is the agent.
The company will sell between 4,117,647 and 5,294,117 units of one common share and one half-share warrant at C$0.85 each.
Each full warrant is exercisable at C$1.15 for two years.
Proceeds will be used for potential acquisitions, marketing expenses and working capital purposes.
Quebec City-based Opsens develops fiber optic sensors and signal conditioners used in the oil and natural gas sector.
Issuer: | Opsens Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$3.5 million (minimum), C$4.5 million (maximum)
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Units: | 4,117,647 (minimum), 5,294,117 (maximum)
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Price: | C$0.85
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Warrants: | One half-share warrant per unit
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Warrant strike price: | C$1.15
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Warrant expiration: | Two years
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Agent: | M Partners Inc.
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Pricing date: | Jan. 28
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Stock symbol: | TSX Venture: OPS
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Stock price: | C$0.90 at close Jan. 27
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Market capitalization: | C$40.1 million
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