Company sells 10 million units with five-year warrants at $0.05 each
By Devika Patel
Knoxville, Tenn., Nov. 28 - Viscount Systems, Inc. settled a $500,000 private placement of units on Nov. 26, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 10 million units of one common share and one half-share warrant at $0.05 per unit. Each whole warrant is exercisable at $0.10 for five years. The strike price reflects a 66.67% premium to the Nov. 23 closing share price of $0.06.
Based in Burnaby, B.C., Viscount is a manufacturer, developer and service provider of access control security products.
| Issuer: | Viscount Systems, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $500,000
|
| Units: | 10 million
|
| Price: | $0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.10
|
| Settlement date: | Nov. 26
|
| Stock symbol: | OTCBB: VSYS
|
| Stock price: | $0.06 at close Nov. 23
|
| Market capitalization: | $4.6 million
|
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