Non-brokered deal finances growth, debt repayment and working capital
By Devika Patel
Knoxville, Tenn., Nov. 25 – Dealnet Capital Corp. said it plans a non-brokered private placement of units to raise between C$2.5 million and C$5 million.
The company will sell between 13,157,895 and 26,315,790 units of one common share and one warrant at C$0.19 per unit. Each warrant will be exercisable at C$0.30 for 18 months. The strike price is a 57.9% premium to the Nov. 24 closing share price of C$0.19.
Proceeds will be used for growth, to repay debt from a recent acquisition, for working capital and general and administrative purposes.
The banking company is based in Toronto.
| Issuer: | Dealnet Capital Corp.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$2.5 million (minimum), C$5 million (maximum)
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| Units: | 13,157,895 (minimum), 26,315,790 (maximum)
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| Price: | C$0.19
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| Warrants: | One warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.30
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| Agent: | Non-brokered
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| Pricing date: | Nov. 25
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| Stock symbol: | CNSX: DLS
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| Stock price: | C$0.19 at close Nov. 24
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