By Sheri Kasprzak
New York, Aug. 9 - Wireless Age Communications, Inc. settled a $1,000,006 private placement of series A convertible preferreds.
The company sold 7,142,900 shares of the preferred stock at $0.14 each.
The preferreds are convertible into common stock at $0.14 per share.
The investor, Barron Partners LP, received series A warrants for 7.5 million shares, exercisable at $0.25 each through Aug. 3, 2011 and series B warrants for 7.5 million shares, exercisable at $0.50 each through Aug. 3, 2011.
Located in Mississauga, Ont., Wireless Age is a retailer of wireless communications products.
| Issuer: | Wireless Age Communications, Inc.
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| Issue: | Series A convertible preferreds
|
| Amount: | $1,000,006
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| Shares: | 7,142,900
|
| Price: | $0.14
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| Conversion price: | $0.14
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| Warrants: | Series A warrants for 7.5 million shares; series B warrants for 7.5 million shares
|
| Warrant expiration: | Aug. 3, 2011
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| Warrant strike price: | $0.25 for series A; $0.50 for series B
|
| Investor: | Barron Partners LP
|
| Settlement date: | Aug. 3
|
| Stock symbol: | OTCBB: WLSA
|
| Stock price: | $0.32 at close Aug. 3
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