By Sheri Kasprzak
Atlanta, May 31 - Quinto Technology Inc. has announced its plans to raise up to C$1.2 million in a private placement of units.
The offering includes a maximum of 2 million units at C$0.60 each.
The units include one share and one warrant. The warrants provide for an additional share at C$0.75 each for six months.
Subscribers will have a choice between flow-through or non flow-through shares associated with the offering.
All proceeds from the flow-through units will be used for exploration on the company's properties in Quebec. The proceeds from the non flow-through units will be used for administrative purposes.
Based in Delta, B.C., Quinto is a mineral exploration, development and acquisition company.
| Issuer: | Quinto Technology Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.2 million (maximum)
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| Units: | 2 million (maximum)
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| Price: | C$0.60
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| Warrants: | One warrant per unit
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| Warrant expiration: | Six months
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| Warrant strike price: | C$0.75
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| Pricing date: | May 30
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| Stock price: | C$0.65 at close May 30
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