Company sells 8,872,909 common shares at C$0.35 apiece in two tranches
By Devika Patel
Knoxville, Tenn., Dec. 21 – Quorum Information Technologies Inc. said that it raised C$206,263 in the second and final tranche of a C$3.11 million non-brokered private placement of stock. The deal priced for C$3.15 million on Dec. 11 and raised C$2.9 million at pricing.
The company sold 8,872,909 common shares at C$0.35 per share. The price per share is identical to the Dec. 10 closing share price. Quorum sold 8,283,586 shares in the first tranche and 589,323 shares in the second tranche.
Proceeds will be used for growth and general corporate purposes.
Based in Calgary, Alta., Quorum develops its Xsellerator software for automotive dealerships.
| Issuer: | Quorum Information Technologies Inc.
|
| Issue: | Common stock
|
| Amount: | C$3,105,518
|
| Shares: | 8,872,909
|
| Price: | C$0.35
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 11
|
| Settlement dates: | Dec. 11 (for C$2,899,255), Dec. 21 (for C$206,263)
|
| Stock symbol: | TSX Venture: QIS
|
| Stock price: | C$0.35 at close Dec. 10
|
| Market capitalization: | C$17.65 million
|
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