9,301,597 units sold to fund sales, marketing initiatives, operations
By Devika Patel
Knoxville, Tenn., July 20 – Urbanimmersive Inc. said it settled a C$1,395,240 private placement of units. Haywood Securities Inc. was the agent for the deal, which priced for C$1.5 million with a C$225,000 greenshoe on May 4.
The company sold 9,301,597 units of one common share and one warrant at C$0.15 per unit.
Each warrant will be exercisable at C$0.25 until July 20, 2018. The strike price reflects a 66.67% premium to the May 3 closing share price of C$0.15.
Proceeds will be used for sales and marketing initiatives and operations.
The digital media company is based in Montreal.
| Issuer: | Urbanimmersive Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,395,240
|
| Units: | 9,301,597
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | July 20, 2018
|
| Warrant strike price: | C$0.25
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | May 4
|
| Settlement date: | July 20
|
| Stock symbol: | TSX Venture: UI
|
| Stock price: | C$0.15 at close May 3
|
| Market capitalization: | C$6.53 million
|
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