By Devika Patel
Knoxville, Tenn., Nov. 4 - Avante Security Corp. said it took in C$1.07 million in a non-brokered private placement of units.
The company sold 2,828,843 units of one common share and one half-share warrant at C$0.38 apiece.
The whole two-year warrants are exercisable at C$0.60 until Nov. 4, 2009.
Proceeds will be used for product development, marketing and sales of the company's 724Smart WIP technology and working capital.
Based in Toronto, Avante designs, installs and monitors residential and commercial security systems.
| Issuer: | Avante Security Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,074,960.34
|
| Units: | 2,828,843
|
| Price: | C$0.38
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Nov. 4, 2009
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Settlement date: | Nov. 4
|
| Stock symbol: | TSX Venture: ASY
|
| Stock price: | C$0.37 at close Nov. 4
|
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