By Devika Patel
Knoxville, Tenn., Dec. 7 - Titan Trading Analytics Inc. took in C$1.2 million in a non-brokered private placement of units. It originally planned to raise only C$800,000 when the deal priced on Sept. 11.
The company sold 3,036,234 units at C$0.40 apiece. It originally meant to sell 2 million units at that price. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.60 for two years.
Insiders bought C$363,428.40 of the units.
Proceeds will be used to enhance marketing and training programs, software development and for working capital.
Titan, based in Edmonton, Alta., develops trading software used by individual and institutional traders.
| Issuer: | Titan Trading Analytics Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 3,036,234
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 11
|
| Settlement date: | Dec. 7
|
| Stock symbol: | TSX Venture: TTA
|
| Stock price: | C$0.45 at close Sept. 11
|
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