Six-month debentures sold with two-year warrants to fund business plan
By Devika Patel
Knoxville, Tenn., April 11 - Dealnet Capital Corp. said it arranged a C$1 million non-brokered private placement of 12% unsecured debentures on Thursday.
Each debenture matures in six months.
Investors also will receive 100% warrant coverage. Each warrant is exercisable at C$0.29 for two years. The strike price is a 20.83% premium to the April 9 closing share price of C$0.24.
Proceeds will be used for the company's business plan.
The banking company is based in Toronto.
| Issuer: | Dealnet Capital Corp.
|
| Issue: | Unsecured debentures
|
| Amount: | C$1 million
|
| Maturity: | Six months
|
| Coupon: | 12%
|
| Warrants: | 100% coverage
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.29
|
| Agents: | Non-brokered
|
| Pricing date: | April 10
|
| Stock symbol: | CNSX: DLS
|
| Stock price: | C$0.24 at close April 9
|
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