By Laura Lutz
Washington, Feb. 21 - Texada Software Inc. plans to conduct a private placement of units for up to C$1.015 million.
The company plans to sell up to 14.5 million units of one share and one half-share warrant at C$0.07 per unit. Each whole warrant will be exercisable at C$0.10 for two years.
Insiders of the company are expected to subscribe for at least 25% of the offering.
The company said on Wednesday that settlement of the non-brokered placement was expected within 30 days.
Proceeds will be used to fund research and development and for working capital.
Based in Toronto, Texada provides software for equipment rental companies and other commercial customers.
| Issuer: | Texada Software Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.015 million
|
| Units: | 14.5 million
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 21
|
| Stock symbol: | TSX Venture: TXS
|
| Stock price: | C$0.065 at close Feb. 21
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
