By Sheri Kasprzak
Atlanta, May 20 - CriticalControl Solutions Corp. said it has closed a private placement for C$4 million.
The company sold 16 million units at C$0.25 each.
The units are comprised of one share and one half-share warrant. The full warrants allow for an additional share at C$0.33 each through May 19, 2007.
Canaccord Capital Corp. was the lead bookrunner in the deal, and Dlouhy Merchant Group Inc. was a co-agent.
Based in Calgary, Alta., CriticalControl is a technology company that develops data management products for the government and energy sectors. The proceeds will be used to fund growth.
| Issuer: | CriticalControl Solutions Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$4 million
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| Units: | 16 million
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | May 19, 2007
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| Warrant strike price: | C$0.33
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| Placement agent: | Canaccord Capital Corp. (lead); Dlouhy Merchant Group Inc.
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| Settlement date: | May 19
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| Stock price: | C$0.225 at close May 19
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