Company to complete offering as part of planned qualifying transaction
By Devika Patel
Knoxville, Tenn., June 6 - Whiteknight Acquisitions Inc. said it will raise between C$1.9 million and C$2.2 million in a private placement of units, which will be conducted on a commercially reasonable-efforts basis in connection with the company's qualifying transaction with Smart Employee Solutions Inc. Canaccord Genuity Corp. is the agent.
The company will sell between 6,333,333 and 7,333,333 units of one common share and one three-year warrant at C$0.30 per unit.
The warrants will be exercisable at C$0.45 in the first year, C$0.55 in the second year and at C$0.65 in the third year. The strike prices are 125%, 175% and 225% premiums to the June 5 closing share price of C$0.20.
Settlement is expected June 21.
Whiteknight is a Toronto-based capital pool company.
| Issuer: | Whiteknight Acquisitions Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.9 million (minimum), C$2.2 million (maximum)
|
| Units: | 6,333,333 (minimum), 7,333,333 (maximum)
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike prices: | C$0.45 in the first year, C$0.55 in the second year and C$0.65 in the third year
|
| Agent: | Canaccord Genuity Corp.
|
| Pricing date: | June 6
|
| Settlement date: | June 21
|
| Stock symbol: | TSX Venture: WKA.P
|
| Stock price: | C$0.20 at close June 5
|
| Market capitalization: | C$679,000
|
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