Non-brokered deal, at C$0.22 per unit, funds marketing and advertising
By Devika Patel
Knoxville, Tenn., April 21 - Digital Shelf Space Corp. said it plans a C$2.5 million non-brokered private placement of units. CB Capital Partners Inc. will receive a finder's fee.
The company will sell 11,363,636 units of one common share and one half-share warrant at C$0.22 apiece. Each whole warrant is exercisable at C$0.30 for 18 months. The strike price is a 42.86% premium to the April 20 closing share price of C$0.21.
The offering will have a minimum subscription of 45,455 units.
Proceeds will be used for marketing and advertising, content development and new projects, software and IT development, transaction and related expenses, working capital and general corporate purposes.
The producer of home entertainment content is based in Vancouver, B.C.
| Issuer: | Digital Shelf Space Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 11,363,636
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | April 21
|
| Stock symbol: | TSX Venture: DSS
|
| Stock price: | C$0.21 at close April 20
|
| Market capitalization: | C$9.06 million
|
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