Non-brokered offering slated to fund general working capital purposes
By Devika Patel
Knoxville, Tenn., Dec. 4 – ARHT Media Inc. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell 8 million units of one common share and one half-share warrant at C$0.25 per unit, with each whole warrant exercisable at C$0.40 for two years. The strike price is a 100% premium to C$0.20, the Dec. 3 closing share price.
Settlement is expected Jan. 15.
Proceeds will be used for general working capital purposes.
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: | 8 million
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Price: | C$0.25
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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$0.40
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Agent: | Non-brokered
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Pricing date: | Dec. 4
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Settlement date: | Jan. 15
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Stock symbol: | TSX Venture: ART
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Stock price: | C$0.20 at close Dec. 3
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Market capitalization: | C$14.61 million
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