Company sells 12,333,333 units with 18-month warrants for C$0.30 each
By Devika Patel
Knoxville, Tenn., Aug. 30 - Ozcapital Ventures Inc. said it plans a C$3.7 million private placement of units.
The company will sell 12,333,333 units of one common share and one half-share warrant at C$0.30 per unit.
Each whole warrant will be exercisable at C$0.50 for 18 months. The strike price represents a 233.33% premium to the Aug. 29 closing share price of C$0.15.
The Edmonton, Alta., capital pool company also has received conditional acceptance from the TSX Venture Exchange for its qualifying transaction with Strata-X, Inc., an oil and natural gas explorer.
| Issuer: | Ozcapital Ventures Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3.7 million
|
| Units: | 12,333,333
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Pricing date: | Aug. 30
|
| Stock symbol: | TSX Venture: OZZ.P
|
| Stock price: | C$0.15 at close Aug. 30
|
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