Proceeds from units sale to enhance marketing and training programs
By Devika Patel
Knoxville, Tenn., Oct. 12 - Titan Trading Analytics Inc. said it completed a non-brokered private placement of units. The deal priced for C$1.5 million on Sept. 8 and raised C$1.98 million.
The company sold 19,824,500 units of one common share and one warrant at C$0.10 apiece. Each warrant is exercisable at C$0.30 for two years. The strike price represents a 172.73% premium to C$0.11, the Sept. 7 closing share price.
Proceeds will be used to enhance marketing and training programs and for general working capital requirements.
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 warrant
|
| Amount: | C$1,982,450
|
| Units: | 19,824,500
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 8
|
| Settlement date: | Oct. 12
|
| Stock symbol: | TSX Venture: TTA
|
| Stock price: | C$0.11 at close Sept. 8
|
| Market capitalization: | C$5.83 million
|
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