By Devika Patel
Knoxville, Tenn., June 14 - Clearford Industries Inc. announced it completed the second and final tranche of a C$1.44 million private placement of units. The deal priced for C$2.5 million on May 13, and the company raised C$893,918 in the first tranche on May 28.
The company sold units of one common share and one warrant at C$0.10 apiece. Each warrant is exercisable at C$0.15 for two years.
Proceeds will be used for operations and working capital.
Based in Ottawa, Clearford develops wastewater management systems.
| Issuer: | Clearford Industries Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,444,501
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Pricing date: | May 13
|
| Settlement date: | May 28 (for C$893,918), June 14
|
| Stock symbol: | TSX Venture: CLI
|
| Stock price: | C$0.08 at close May 12
|
| Market capitalization: | C$4.33 million
|
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