Non-brokered offering funds working capital and equipment acquisitions
By Devika Patel
Knoxville, Tenn., Aug. 12 – ARHT Media Inc. said it completed a C$1.52 million non-brokered private placement of units. The deal priced for C$2 million on July 16.
The company sold 3.8 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.
Proceeds will be used for general working capital purposes and equipment acquisitions.
The Toronto company builds interactive human holograms.
| Issuer: | ARHT Media Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.52 million
|
| Units: | 3.8 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | July 16
|
| Settlement date: | Aug. 12
|
| Stock symbol: | TSX Venture: ART
|
| Stock price: | C$0.38 at close July 15
|
| Market capitalization: | C$24.57 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
