By Sheri Kasprzak
Atlanta, March 18 - Avenue Financial Corp. said it has arranged a private placement for up to C$1 million.
The offering includes up to 20 million units at C$0.05 each.
The units are comprised of one share and one warrant. The warrants allow for an additional share at C$0.10 each for two years.
Based in Toronto, Avenue Financial is an administrator of segregated and pooled managed fund products and services. It plans to use the proceeds from the deal for product marketing and distribution.
| Issuer: | Avenue Financial Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1 million (maximum)
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| Units: | 20 million (maximum)
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| Price: | C$0.05
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
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| Pricing date: | March 18
|
| Stock price: | C$0.045 at close March 18
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