Company sold units of one common share and one warrant at C$0.20 each
By Devika Patel
Knoxville, Tenn., Sept. 3 – Keek Inc. said it raised C$333,200 in the second and final tranche of a C$1.15 million non-brokered private placement of units. The company raised C$816,800 on Aug. 14.
The company sold 5.75 million units of one common share and one warrant at C$0.20 per unit. The three-year warrants are each exercisable at C$0.25, which is a 47.06% premium to the Aug. 13 closing share price of C$0.17.
Keek sold 4,084,000 units in the first tranche and 1,666,000 units in the second tranche.
Proceeds will be used to implement the licensing agreement with Personas.com Corp., to develop the Keek Social Trivia project and for general corporate purposes.
Toronto- and New York-based Keek provides a global mobile video network.
| Issuer: | Keek Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.15 million
|
| Units: | 5.75 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Settlement dates: | Aug. 14 (for C$816,800), Sept. 3 (for C$333,200)
|
| Stock symbol: | TSX Venture: KEK
|
| Stock price: | C$0.17 at close Aug. 13
|
| Market capitalization: | C$2.92 million
|
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