By Devika Patel
Knoxville, Tenn., Feb. 12 - Opsens Inc. said it completed a C$3.64 million private placement of units. The deal priced for up to C$4.5 million on Jan. 28.
M Partners Inc. was the agent.
The company sold 4,287,500 units of one common share and one half-share warrant at C$0.85 per unit.
Each full warrant is exercisable at C$1.15 for two years.
Proceeds will be used for potential acquisitions, marketing expenses and working capital.
Quebec City-based Opsens develops fiber optic sensors and signal conditioners used in the oil and natural gas sector.
| Issuer: | Opsens Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3,644,375
|
| Units: | 4,287,500
|
| Price: | C$0.85
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$1.15
|
| Warrant expiration: | Two years
|
| Agent: | M Partners Inc.
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 12
|
| Stock symbol: | TSX Venture: OPS
|
| Stock price: | C$0.90 at close Jan. 27
|
| Market capitalization: | C$34 million
|
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