Company to complete offering as part of planned qualifying transaction
By Devika Patel
Knoxville, Tenn., July 3 - Ovid Capital Ventures Inc. said it will raise between C$2.3 million and C$3 million in a private placement of stock conducted in connection with its qualifying transaction. Jones, Gable & Co. Ltd. is the agent.
The company will sell between 11.5 million and 15 million common shares at C$0.20 per share on a best-efforts basis. The price per share is a 33.33% premium to the July 2 closing share price of C$0.15.
In the qualifying transaction, the company will combine with iTech Medical, Inc.
The capital pool company is based in Montreal.
| Issuer: | Ovid Capital Ventures Inc.
|
| Issue: | Common stock
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| Amount: | C$2.3 million (minimum), C$3 million (maximum)
|
| Shares: | 11.5 million (minimum), 15 million (maximum)
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| Price: | C$0.20
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| Warrants: | No
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| Agent: | Jones, Gable & Co. Ltd.
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| Pricing date: | July 3
|
| Stock symbol: | TSX Venture: OCA.P
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| Stock price: | C$0.15 at close July 2
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