By Devika Patel
Knoxville, Tenn., Oct. 25 - Critical Outcome Technologies Inc. said it has entered into an agreement with Northern Securities Inc. to act as lead agent for a private placement of shares to raise up to C$6 million. Critical also has retained the option of increasing the deal size by C$1 million.
The company will sell up to 3,333,333 common shares at C$1.80 apiece. It will sell up to 3,888,888 shares if it chooses to boost the deal size.
The shares will have a four-month hold period.
Proceeds will be used for product development, research and development and other corporate purposes.
Based in London, Ont., Critical helps deliver new drug therapies.
| Issuer: | Critical Outcome Technologies Inc.
|
| Issue: | Common shares
|
| Amount: | C$6 million (plus C$1 million more, at Critical's option)
|
| Shares: | 3,333,333 (3,888,888 if Critical boosts deal size)
|
| Price: | C$1.80
|
| Warrants: | No
|
| Agent: | Northern Securities Inc.
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 31
|
| Stock symbol: | TSX Venture: COT
|
| Stock price: | C$1.92 at close Oct. 24
|
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