By Devika Patel
Knoxville, Tenn., Oct. 12 - VenPath Investments Inc. announced it has retained FirstEnergy Capital Corp. as an agent for a private placement of shares to raise a target tally of $12 million.
The company hopes to sell 20 million common shares at $0.60 per share.
The shares will have a four-month hold period.
The deal is expected to close on Oct. 30.
Proceeds will be used to complete the company's planned OPE transaction.
VenPath is an investment firm based in Calgary, Alta.
| Issuer: | VenPath Investments Inc.
|
| Issue: | Common shares
|
| Amount: | $12 million
|
| Shares: | 20,000,000
|
| Price: | $0.60
|
| Warrants: | No
|
| Agent: | FirstEnergy Capital Corp.
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 31
|
| Stock symbol: | TSX Venture: VPN
|
| Stock price: | C$0.16 at close Oct. 12
|
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