By Laura Lutz
Des Moines, March 13 - Delta Systems, Inc. settled a private placement of units for C$1.33 million.
The company sold 3.8 million units of one share and one half-share warrant at C$0.35 per unit. Each whole warrant will be exercisable at C$0.50 for two years.
The deal priced on March 6 as a C$1.4 million offering of up to 4 million units.
Quest Securities Corp. will be the agent.
Proceeds will be used for working capital and general corporate purposes.
Based in Rogers, Ark., Delta Systems makes factory automation systems for consumer packaged goods companies.
| Issuer: | Delta Systems, Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.33 million
|
| Units: | 3.8 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Quest Securities Corp.
|
| Pricing date: | March 6
|
| Settlement date: | March 13
|
| Stock symbol: | TSX Venture: DLT
|
| Stock price: | C$0.31 at close March 5
|
| Stock price: | C$0.31 at close March 13
|
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