Company sells 3,726,604 units at C$0.30 per unit in non-brokered deal
By Devika Patel
Knoxville, Tenn., Sept. 24 – Orca Touchscreen Technologies Ltd. said it plans a C$1.12 million non-brokered private placement of units.
The company will sell 3,726,604 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 700% premium to the Sept. 23 closing share price of C$0.20.
Settlement is expected Sept. 25.
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$1,117,981
|
| Units: | 3,726,604
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 25
|
| Stock symbol: | CNSX: OAA
|
| Stock price: | C$0.20 at close Sept. 23
|
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