Company sells 20 million of units at C$0.30 each through offering
By Devika Patel
Knoxville, Tenn., July 29 – Orca Touchscreen Technologies Ltd. said it raised C$269,278 in the second tranche of a C$6 million private placement of units. The deal priced on June 15 and raised C$467,315 on July 27.
The company is selling 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.
In the first tranche, Orca sold 1,557,716 units. It sold 897,594 units in the second tranche.
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.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6 million
|
| Shares: | 20 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | June 15
|
| Settlement dates: | July 27 (for C$467,315), July 29 (for C$269,278)
|
| Stock symbol: | CNSX: OAA
|
| Stock price: | C$0.10 at close June 12
|
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