By Sheri Kasprzak
Atlanta, March 9 - Optimal Geomatics Inc. said it has closed an upsized private placement of stock for C$1,928,625.
The company sold 7,714,500 shares at C$0.25 each.
The offering was first announced March 1 as a C$1.8 million deal comprised of 7.2 million shares sold at the same price.
Based in Vancouver, B.C., Optimal Geomatics provides geomatics services to power line and pipeline utility companies. The proceeds from the deal will be used for general working capital, including marketing and sales in North America and the expansion of its operations in Vancouver.
| Issuer: | Optimal Geomatics Inc.
|
| Issue: | Stock
|
| Amount: | C$1,928,625
|
| Shares: | 7,714,500
|
| Price: | C$0.25
|
| Warrants: | No
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| Pricing date: | March 1
|
| Settlement date: | March 9
|
| Stock price: | C$0.28 at close Feb. 28
|
| Stock price: | C$0.35 at close March 8 (last trade)
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