Deal sells 10.4 million units of one share and one warrant at C$0.15
By Devika Patel
Knoxville, Tenn., July 15 – Snipp Interactive Inc. said it completed a C$1.56 million oversubscribed non-brokered private placement of units.
The company sold 10.4 million units of one common share and one warrant at C$0.15 per unit.
Each warrant will be exercisable at C$0.20 for three years. The strike price represents a 25% premium to the C$0.16 closing share price on July 14.
Proceeds will be used for sales efforts, investor marketing and roadshows, acquisitions as opportunities arise and the building out Snipp's stable of mobile solutions.
The Washington, D.C., company provides mobile marketing services to print publishers, advertising agencies and corporate/consumer brands.
| Issuer: | Snipp Interactive Inc.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$1.56 million
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| Units: | 10.4 million
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| Price: | C$0.15
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.20
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| Agent: | Non-brokered
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| Settlement date: | July 15
|
| Stock symbol: | TSX Venture: SPN
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| Stock price: | C$0.16 at close July 14
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| Market capitalization: | C$10.63 million
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