Company sells 20 million of units at C$0.44 each through offering
By Devika Patel
Knoxville, Tenn., March 27 – Orca Touchscreen Technologies Ltd. said it plans a C$8.8 million private placement of units.
The company will sell 20 million units of one common share and one half-share warrant at C$0.44 per unit. Each whole warrant will be exercisable at C$0.55 for five years. The strike price is identical to the March 26 closing share price.
Proceeds will be used for general working capital purposes.
The Vancouver, B.C., company sells and distributes capacitive touchscreens to manufacturers of electronic devices.
Issuer: | Orca Touchscreen Technologies Ltd.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$8.8 million
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Shares: | 20 million
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Price: | C$0.44
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Five years
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Warrant strike price: | C$0.55
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Pricing date: | March 27
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Stock symbol: | CNSX: OAA
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Stock price: | C$0.55 at close March 26
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Market capitalization: | C$22.24 million
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