Company sells 33,333,333 units at C$0.30 apiece in non-brokered deal
By Devika Patel
Knoxville, Tenn., Oct. 21 – Orca Touchscreen Technologies Ltd. said it will conduct a C$10 million non-brokered private placement of units.
The company will sell 33,333,333 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 100% premium to the Oct. 20 closing share price of C$0.20.
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$10 million
|
| Units: | 33,333,333
|
| 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: | Oct. 21
|
| Stock symbol: | CNSX: OAA
|
| Stock price: | C$0.20 at close Oct. 20
|
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