By Laura Lutz
Washington, Dec. 5 - Cymat Technologies Ltd. plans to conduct a private placement for up to C$3 million and at least C$2 million.
The company plans to sell units of one share and one warrant at C$0.30 per unit. Each warrant will be exercisable for two years, at C$0.40 for the first year and C$0.60 for the second year.
M Partners Inc. and D&D Securities Co. will act as agents for the deal.
Settlement is expected within 30 days.
Proceeds will be used to increase production capacity, reduce order cycle times, hire additional sales staff and provide working capital.
Based in Toronto, Cymat develops materials for industry.
| Issuer: | Cymat Technologies Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3 million (maximum); C$2 million (minimum)
|
| Units: | 10 million (maximum); 6,666,667 (minimum)
|
| Price: | C$0.30
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year; C$0.60 in the second year
|
| Agents: | M-Partners, D&D Securities Co.
|
| Pricing date: | Dec. 5
|
| Stock symbol: | Toronto: CYM
|
| Stock price: | C$0.33 at close Dec. 5
|
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