Deal sells 5,555,556 units of one common share, a half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 21 - TrueContext Mobile Solutions Corp. said it completed a C$1 million non-brokered private placement of units.
The company sold 5,555,556 units of one common share and one half-share warrant at C$0.18 per unit. Each whole warrant is exercisable at C$0.30 until June 30, 2014.
Proceeds will be used for sales automation and working capital purposes.
The provider of mobile business software solutions is based in Toronto.
| Issuer: | TrueContext Mobile Solutions Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 5,555,556
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 30, 2014
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 21
|
| Stock symbol: | TSX Venture: TMN
|
| Stock price: | C$0.04 at close Dec. 21
|
| Market capitalization: | C$2.39 million
|
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