By Devika Patel
Knoxville, Tenn., July 23 - D-BOX Technologies Inc. said it has completed a C$3.5 million private placement of units. Laurentian Bank Securities Inc. was the agent for the deal, which priced July 14.
The company sold 8.75 million units of one common share and one half-share warrant at C$0.40 per unit.
Each whole warrant will be exercisable at C$0.65 for 18 months.
Proceeds will be used for working capital and general corporate expenses.
Based in Longueuil, Quebec, D-Box manufactures motion systems for the entertainment industry.
| Issuer: | D-BOX Technologies Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3.5 million
|
| Units: | 8.75 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.65
|
| Agent: | Laurentian Bank Securities Inc.
|
| Pricing date: | July 14
|
| Settlement date: | July 23
|
| Stock symbol: | TSX Venture: DBO.A
|
| Stock price: | C$0.43 at close July 14
|
| Market capitalization: | C$46.8 million
|
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