By Laura Lutz
Washington, Nov. 27 - Sonomax Hearing Healthcare Inc. settled a C$1.25 million private placement of units with Le Fonds d'investissement Actions-Croissance PME Inc.
The company sold 5 million units of one share and one half-share warrant at C$0.25 per unit. Each warrant is exercisable at C$0.45 for two years.
Proceeds will be used for working capital.
Following the placement, Sonomax has 109,191,248 shares outstanding.
Based in Montreal, Sonomax develops hearing aids.
| Issuer: | Sonomax Hearing Healthcare Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.25 million
|
| Units: | 5 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Investor: | Le Fonds d'investissement Actions-Croissance PME Inc.
|
| Settlement date: | Nov. 23
|
| Stock symbol: | TSX Venture: SHH
|
| Stock price: | C$0.24 at close Nov. 23
|
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