Deal sold 6 million units of one share and one warrant at C$0.25 each
By Devika Patel
Knoxville, Tenn., March 28 – Keek Inc. said it raised C$750,000 in the second and final tranche of a C$1.5 million non-brokered private placement of units. The deal priced on Jan. 21 and raised C$750,000 on March 21.
The company sold 6 million units of one common share and one warrant at C$0.25 per unit. The one-year warrants are each exercisable at C$0.30, which is a 30.43% premium to the Jan. 20 closing share price of C$0.23.
Keek sold 3 million units in the first tranche and 3 million units in the second tranche. Riavera Corp. bought 520,000 units for C$130,000.
Proceeds will be used for implementing a licensing agreement with Personas.com Corp. and for general corporate purposes.
Toronto- and New York-based Keek provides a mobile video network.
| Issuer: | Keek Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Investor: | Riavera Corp. (for C$130,000)
|
| Pricing date: | Jan. 21
|
| Settlement dates: | March 21 (for C$750,000), March 28 (for C$750,000)
|
| Stock symbol: | TSX Venture: KEK
|
| Stock price: | C$0.23 at close Jan. 20
|
| Market capitalization: | C$6.46 million
|
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