By Sheri Kasprzak
New York, Oct. 19 - ClearFrame Solutions Corp. said it negotiated a private placement for C$2.25 million.
The offering includes 2.25 million units at $1.00 apiece.
The units are comprised of one share and one warrant. The whole warrants allow for the purchase of another share at C$1.25 for two years.
Proceeds from the offering will be used for business investigations and acquisitions, software development and working capital.
ClearFrame, based in Waterloo, Ont., produces document-management software used by city governments.
| Issuer: | ClearFrame Solutions Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2.25 million
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| Units: | 2.25 million
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| Price: | C$1.00
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.25
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| Pricing date: | Oct. 18
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| Stock price: | C$0.85 at close Oct. 18
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