By Jennifer Chiou
New York, March 29 - Arrowhead Water Products Ltd. said it brought in C$900,000 in a fully subscribed downsized private placement of units.
Arrowhead sold 36 million units of one common share and one warrant at C$0.025 per unit. Each warrant will be exercisable at C$0.03 until March 31, 2011.
It originally planned to take in C$1 million when the placement was announced on Feb. 26.
The company paid finder's fees to non-related parties of C$72,000 and 2,880,000 options.
Arrowhead added that it is proceeding with its previously announced C$200,000 to C$300,000 rights offering to all shareholders.
Proceeds will be used to expand the company's retail business in Alberta and British Columbia.
The water bottling and distribution company is based in Calgary, Alta.
| Issuer: | Arrowhead Water Products Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$900,000
|
| Units: | 36 million
|
| Price: | C$0.025
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | March 31, 2011
|
| Warrant strike price: | C$0.03
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 26
|
| Stock symbol: | TSX Venture: AWP.A
|
| Stock price: | C$0.03 at close Feb. 25
|
| Market capitalization: | C$925,000
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
