Non-brokered deal with insiders will finance company’s working capital
By Devika Patel
Knoxville, Tenn., Sept. 10 – TIO Networks Corp. said it completed a C$2.17 million non-brokered private placement of stock with insiders. The deal priced for C$2.2 million on Aug. 17.
The company sold 2,012,957 common shares at C$1.08 apiece, which is a 3.57% discount to the Aug. 14 closing share price of C$1.12.
Proceeds will be used for general working capital purposes.
Based in Burnaby, B.C., TIO develops a network of financial services kiosks for non-bank marketplaces.
| Issuer: | TIO Networks Corp.
|
| Issue: | Common shares
|
| Amount: | C$2,173,994
|
| Shares: | 2,012,957
|
| Price: | C$1.08
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 17
|
| Settlement date: | Sept. 10
|
| Stock symbol: | TSX Venture: TNC
|
| Stock price: | C$1.12 at close Aug. 14
|
| Market capitalization: | C$65.14 million
|
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