Offering consists of units of stock, warrants exercisable at C$0.40
By Marisa Wong
Morgantown, W.Va., Feb. 12 – Orca Touchscreen Technologies Ltd. announced an up to C$1.5 million private placement of units on Friday.
The company is proposing to offer up to 5 million units at C$0.30 each, which is 10 times the company’s closing share price on Feb. 12.
Each unit will consist of one common share and half of one warrant. Each whole warrant will be exercisable at C$0.40 for five years.
Proceeds will be used for general working capital purposes.
The Vancouver, B.C., company manufactures touchscreen monitors and panels.
| Issuer: | Orca Touchscreen Technologies Ltd.
|
| Issue: | Units of common stock and warrants
|
| Amount: | Up to C$1.5 million
|
| Units: | Up to 5 million
|
| Price: | C$0.30
|
| Warrants: | Half warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.40
|
| Announcement date: | Feb. 12
|
| Stock symbol: | CSE: OAA
|
| Stock price: | C$0.03 at close Feb. 12
|
| Market cap: | C$1.6 million
|
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