PI Financial helps fund working capital and general corporate purposes
By Devika Patel
Knoxville, Tenn., July 3 – Apivio Systems Inc. said it negotiated a C$4 million private placement of units. PI Financial Corp. is the agent and has a C$300,000 greenshoe.
The company will sell 4,444,445 units of one common share and one half-share warrant at C$0.45 per unit on a commercially reasonable efforts basis.
Each whole two-year warrant will be exercisable at C$0.55, a 10% premium to the July 2 closing share price of C$0.50.
Settlement is expected July 25.
Proceeds will be used for working capital and general corporate purposes.
The technology company is based in Vancouver, B.C.
| Issuer: | Apivio Systems Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Greenshoe: | C$300,000
|
| Units: | 4,444,445
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
| Agent: | PI Financial Corp.
|
| Pricing date: | July 3
|
| Settlement date: | July 25
|
| Stock symbol: | TSX Venture: APV
|
| Stock price: | C$0.50 at close July 2
|
| Market capitalization: | C$45.62 million
|
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