By Laura Lutz
Des Moines, June 29 - Decision Dynamics Technology Ltd. raised C$1,689,500.20 from the second tranche of a C$3 million private placement of units, bringing the total raised so far to C$2,501,500.20.
In total, the company plans to sell up to 10 million units of one share and one half-share warrant at C$0.30 per unit. Each whole warrant will be exercisable at C$0.40 for one year.
Canaccord Adams is the agent for part of the placement, and the remainder is non-brokered.
The first tranche, which was non-brokered, consisted of 2,706,666 units for proceeds of C$812,000.
The second tranche consisted of 5,631,667 units. It included both brokered and non-brokered portions.
Investors in the non-brokered placement are expected to include Mosaic Venture Partners, Edgestone Capital Venture Fund, and several of the directors and members of senior management of the company.
The company said in a news release that the proceeds will be used for sales and marketing and to improve its product value.
Decision Dynamics is a software company based in Calgary, Alta.
| Issuer: | Decision Dynamics Technology Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Agent: | Canaccord Adams (for part); non-brokered (for part, including first tranche)
|
| Investors: | Mosaic Venture Partners, Edgestone Capital Venture Fund, others (for non-brokered part)
|
| Pricing date: | June 1
|
| Settlement date: | June 12 (for 2,706,666 units); June 29 (for 5,631,667 units)
|
| Stock symbol: | TSX Venture: DDY
|
| Stock price: | C$0.30 at close May 31
|
| Stock price: | C$0.28 at close June 12
|
| Stock price: | C$0.27 at close June 29
|
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