Deal sells 8,333,329 units with five-year warrants at $0.09 per unit
By Devika Patel
Knoxville, Tenn., March 14 - Viscount Systems, Inc. said it settled a $750,000 private placement of units. Pickwick Capital Partners, LLC was the agent.
The company sold 8,333,329 units of one common share and one half-share warrant at $0.09 per unit.
Each whole, five-year warrant is exercisable at $0.20. The strike price is a 53.85% premium to the March 13 closing share price of $0.13.
Proceeds will be used for general working capital purposes.
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: | $675,000
|
| Units: | 8,333,329
|
| Price: | $0.09
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.20
|
| Agent: | Pickwick Capital Partners, LLC
|
| Settlement date: | March 14
|
| Stock symbol: | OTCBB: VSYS
|
| Stock price: | $0.13 at close March 13
|
| Market capitalization: | $10.67 million
|
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