By Devika Patel
Knoxville, Tenn., Nov. 2 - Bling Capital Corp. said it will conduct a C$900,000 private placement of stock. The deal was announced concurrently with Bling's planned acquisition of all outstanding shares of ON4 Communications Inc., after which ON4 US and ON4 Canada will become Bling subsidiaries.
Bling said it will sell 3 million common shares at C$0.30 per share.
Bling also said ON4 US plans a private placement of shares to raise $1 million by selling 1 million shares at $1.00 each.
Based in Calgary, Alta., Bling Capital Corp. is a capital pool company. Its shares will begin trading on the TSX Venture Exchange under the symbol BLI.P shortly.
ON4 Canada is based in Richmond, B.C. ON4 US is based in Scottsdale, Ariz. Both companies manufacture two-way communication devices that track people, pets, assets, inventory or "just about anything else that is of importance to our customers," according to the companies' web site.
| Issuer: | Bling Capital Corp.
|
| Issue: | Common shares
|
| Amount: | C$900,000
|
| Shares: | 3 million
|
| Price: | C$0.30
|
| Warrants: | No
|
| Pricing date: | Nov. 2
|
| Stock symbol: | TSX Venture: BLI.P
|
|
|
| Issuer: | ON4 Communications Inc.
|
| Issue: | Common shares
|
| Amount: | $1 million
|
| Shares: | 1 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Pricing date: | Nov. 2
|
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