Non-brokered deal sold 32.55 million units with half-share warrants
By Devika Patel
Knoxville, Tenn., Aug. 24 – Mobio Technologies Inc. said it completed a C$1.63 million non-brokered private placement of units. The oversubscribed deal priced for C$1.2 million on Aug. 4.
The company sold 32.55 million units of one common share and one half-share warrant at C$0.05 per unit.
Each whole warrant is exercisable at C$0.075 for two years. The strike price is a 50% premium to the Aug. 3 closing share price of C$0.05.
Code Consulting Ltd. bought 4.8 million units for C$240,000.
Proceeds will be used for general working capital and corporate development purposes.
The Vancouver, B.C., company, previously known as LX Ventures Inc., operates a social network.
| Issuer: | Mobio Technologies Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1,627,500
|
| Units: | 32.55 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.075
|
| Agent: | Non-brokered
|
| Investor: | Code Consulting Ltd. (for C$240,000)
|
| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 24
|
| Stock symbol: | TSX Venture: MBO
|
| Stock price: | C$0.05 at close Aug. 3
|
| Market capitalization: | C$1.79 million
|
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