Issuer sells units of two types of shares; proceeds fund working capital
By Devika Patel
Knoxville, Tenn., Dec. 2 - Blue Vista Technology Inc. said it has negotiated a private placement of units. It will raise C$1 million.
The company will sell 10 million units at C$0.10 each. Each unit will consist of one flow-through common share, one common share and one warrant.
The warrant is exercisable at C$0.10 for two years. The strike price reflects a 66.67% premium to the Dec. 1 closing share price of C$0.06.
Proceeds will be used for working capital, acquisitions and incurring Canada exploration expenditures.
The Toronto-based company also said is considering a restructuring and change of business. It is investigating strategic alternatives, including the sale of its assets and possible acquisitions, in order to enhance shareholder value.
| Issuer: | Blue Vista Technology Inc.
|
| Issue: | Units of one flow-through common share, one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Pricing date: | Dec. 2
|
| Stock symbol: | TSX Venture: BV.H
|
| Stock price: | C$0.06 at close Dec. 1
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