Non-brokered deal funds Alpha, Beta testing of watermarking technology
By Devika Patel
Knoxville, Tenn., Oct. 20 – Oculus VisionTech Inc. settled a C$2.24 million non-brokered private placement of stock on Oct. 15, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 32 million common shares at C$0.07 each. The price per share is a 53.33% discount to the C$0.15 closing share price on Oct. 14.
Proceeds will be used for working capital, Alpha and Beta testing of watermarking technology and to repay about $1.25 million in liabilities.
The Vancouver, B.C., company offers forensic video watermarking products and services.
| Issuer: | Oculus VisionTech Inc.
|
| Issue: | Common stock
|
| Amount: | C$2.24 million
|
| Shares: | 32 million
|
| Price: | C$0.07
|
| Warrants: | No
|
| Agent: | Non-brokered
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| Settlement date: | Oct. 15
|
| Stock symbol: | TSX Venture: OVT
|
| Stock price: | C$0.15 at close Oct. 14
|
| Market capitalization: | C$5.97 million
|
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