Deal conducted at C$0.15 per unit to fund marketing and advertising
By Devika Patel
Knoxville, Tenn., March 6 - Digital Shelf Space Corp. said it completed an oversubscribed C$1.56 million private placement of units. The deal priced for C$1.5 million with a C$750,000 greenshoe on Feb. 10 and was conducted by Fin-XO Securities Inc.
The agent exercised C$62,325 of the greenshoe.
The company sold 10,415,500 units of one common share and one half-share warrant at C$0.15 per unit.
Each whole warrant is exercisable at C$0.25 for 18 months. The strike price is a 66.67% premium to the Feb. 10 closing share price of C$0.15.
Proceeds will be used for marketing and advertising, content development and new projects, transaction and related expenses, and working capital and general corporate purposes.
The producer of home entertainment content is based in Vancouver, B.C.
| Issuer: | Digital Shelf Space Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1,562,325 (including C$62,325 greenshoe)
|
| Units: | 10,415,500
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | Fin-XO Securities Inc.
|
| Pricing date: | Feb. 10
|
| Settlement date: | March 6
|
| Stock symbol: | TSX Venture: DSS
|
| Stock price: | C$0.15 at close Feb. 10 | Market capitalization: | C$7.39 million
|
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