Company sells 20 million units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., Oct. 28 – Midpoint Holdings Ltd. said it raised C$433,002 in the first tranche of a C$3 million private placement of units.
The company is selling 20 million units of one common share and one half-share warrant at C$0.15 per unit. It sold 2,886,677 units in the initial tranche.
Each whole, two-year warrant will be exercisable at C$0.30, which is a 150% premium to the Oct. 27 closing share price of C$0.12.
Proceeds will be used for general working capital purposes.
The Toronto-based company matches buyers and sellers of foreign currency and transfers the funds to their desired location through an intermediary third party payment provider.
| Issuer: | Midpoint Holdings Ltd.
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| Issue: | Units of one common share and one half-share warrant
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| Amount: | C$3 million
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| Units: | 20 million
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| Price: | C$0.15
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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$0.30
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| Settlement date: | Oct. 28 (for C$433,002)
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| Stock symbol: | TSX Venture: MPT
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| Stock price: | C$0.12 at close Oct. 27
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| Market capitalization: | C$6.68 million
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