Non-brokered deal, at C$0.33 per unit, funds working capital purposes
By Devika Patel
Knoxville, Tenn., Dec. 11 - Axios Mobile Assets Corp. said it plans a C$4 million non-brokered private placement of units. The deal has a 15% greenshoe for C$600,000.
The company will sell units of one common share and one half-share warrant at C$0.33 per unit.
Each whole warrant is exercisable at C$0.55 for two years. The strike price is a 66.67% premium to the Dec. 10 closing share price of C$0.33.
Settlement is expected Dec. 31. Insiders may participate.
Proceeds will be used to purchase capital assets and for working capital purposes.
Vaughn, Ont.-based Axios is a logistics enabler. The Axios bundled offering provides the customer with efficiencies in total cost of ownership, useful life, customized configurations and a revenue stream through carbon credit generation, monitoring and the monetizing of carbon emissions reductions.
| Issuer: | Axios Mobile Assets Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$4 million
|
| Greenshoe: | 15% (C$600,000)
|
| Price: | C$0.33
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 31
|
| Stock symbol: | CNSX: AXA
|
| Stock price: | C$0.33 at close Dec. 10
|
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