By Sheri Kasprzak
Atlanta, April 12 - Q Investments Ltd. said it has wrapped a private placement for C$1.6 million.
The company sold 2 million units at C$0.80 each.
The units are comprised of one share and one warrant. The warrants provide for an additional share at C$0.85 each for five years.
In other news, the company said it has granted a US$5 million loan to Exxel Energy Corp. As part of the offering, Q Investments will receive 1 million shares of Exxel as a bonus connected to the loan.
Based in Hamilton, Bermuda, Q Investments is a financial services company. It plans to use the proceeds for working capital and for debt and equity investments.
| Issuer: | Q Investments Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.6 million
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| Units: | 2 million
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| Price: | C$0.80
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | C$0.85
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| Settlement date: | April 12
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| Stock price: | C$1.21 at close April 11
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