Deal offers 20 million units, funds new product development, marketing
By Devika Patel
Knoxville, Tenn., March 27 – OneSoft Solutions Inc. said it completed a C$1 million non-brokered private placement of units. The deal priced Feb. 26.
The company sold 20 million units of one common share and one warrant at C$0.05 per unit.
Each warrant is exercisable at C$0.10 for three years. The strike price is a 42.86% premium to the Feb. 25 closing share price of C$0.07.
Proceeds will be used for sales and marketing, new product development and general working capital.
The company owns cloud‐associated technology, assets and intellectual property.
| Issuer: | OneSoft Solutions Inc.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$1 million
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| Units: | 20 million
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| Price: | C$0.05
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.10
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| Agent: | Non-brokered
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| Pricing date: | Feb. 26
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| Settlement date: | March 27
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| Stock symbol: | TSX Venture: OSS
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| Stock price: | C$0.07 at close Feb. 25
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| Market capitalization: | C$911,640
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