Proceeds intended to enhance company's marketing and training programs
By Devika Patel
Knoxville, Tenn., Sept. 8 - Titan Trading Analytics Inc. said it will raise C$1.5 million in a non-brokered private placement of units.
The company will sell 15 million 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$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | Sept. 8
|
| Stock symbol: | TSX Venture: TTA
|
| Stock price: | C$0.11 at close Sept. 8
|
| Market capitalization: | C$6.41 million
|
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