By Sheri Kasprzak
New York, April 17 - Quinto Technology Inc. said it has increased to C$2.45 million its previously announced C$1.4 million non-brokered private placement.
The company now plans to sell 3.5 million units at C$0.70 each.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$0.85 for the first year and at C$1.00 for the second year.
The deal priced April 10 as a C$1.4 million offering of 2 million units under the same terms.
Proceeds will be used for working capital.
Based in Delta, B.C., Quinto is a mineral exploration, development and acquisition company.
| Issuer: | Quinto Technology Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.45 million (maximum)
|
| Units: | 3.5 million (maximum)
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.85 for the first year; C$1.00 for the second year
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 10
|
| Upsized: | April 17
|
| Stock symbol: | TSX Venture: QU
|
| Stock price: | C$0.86 at close April 10
|
| Stock price: | C$0.86 at close April 13
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
