Non-brokered offering funds working capital and equipment acquisitions
By Devika Patel
Knoxville, Tenn., July 16 – ARHT Media Inc. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one half-share warrant at C$0.40 per unit, with each whole warrant exercisable at C$0.60 for two years. The strike price is a 57.9% premium to C$0.38, the July 15 closing share price.
Settlement is expected July 30.
Proceeds will be used for general working capital purposes and equipment acquisitions.
The Toronto company builds interactive human holograms.
Issuer: | ARHT Media Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$2 million
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Units: | 5 million
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Price: | C$0.40
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.60
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Agent: | Non-brokered
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Pricing date: | July 16
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Settlement date: | July 30
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Stock symbol: | TSX Venture: ART
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Stock price: | C$0.38 at close July 15
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Market capitalization: | C$24.9 million
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