Company sells 20 million of units at C$0.30 each through offering
By Devika Patel
Knoxville, Tenn., June 15 – Orca Touchscreen Technologies Ltd. said it plans a C$6 million private placement of units.
The company will sell 20 million units of one common share and one half-share warrant at C$0.30 per unit. Each whole warrant will be exercisable at C$0.40 for five years. The strike price is a 200% premium to the June 12 closing share price of C$0.10.
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$6 million
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| Shares: | 20 million
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| Price: | C$0.30
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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$0.40
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| Pricing date: | June 15
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| Stock symbol: | CNSX: OAA
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| Stock price: | C$0.10 at close June 12
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