Offering sells 10 million units of one share and one warrant at $0.05
By Devika Patel
Knoxville, Tenn., Oct. 31 – Bi-Optic Ventures Inc. negotiated a $500,000 non-brokered private placement of units, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company will sell 10 million units of one common share and one warrant at $0.05 per unit.
The warrant is exercisable at $0.15 for one year. The strike price is a 79.2% discount to the Oct. 30 closing share price of $0.72.
Proceeds will be used to explore acquisitions and for general working capital purposes.
The blank check company is based in Vancouver, B.C.
| Issuer: | Bi-Optic Ventures Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $500,000
|
| Units: | 10 million
|
| Price: | $0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | $0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 31
|
| Stock symbol: | OTCBB: BOVKF
|
| Stock price: | $0.72 at close on Oct. 30
|
| Market capitalization: | $51.33 million
|
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