Fin-XO is broker for sale of units of stock and half-share warrants
New York, Feb. 10 - Digital Shelf Space Corp. announced a C$1.5 million private placement of units of stock and half share purchase warrants.
The company will sell up to 10 million units at C$0.15 each, according to a news release. Each full warrants will be exercisable at C$0.25 for 18 months after the offering closes. If Digital Shelf Space's stock trades above C$0.35 for 10 consecutive trading days the warrants will expire 30 days later. The price per unit is the same as the stock's closing price on Friday and the warrant strike price is a 66.7% premium.
There is a greenshoe for a further five million units.
Fin-XO Securities Inc. is broker for the transaction and will receive a 7% cash commission, a C$15,000 fee and warrants to buy shares equal to 7% of the number of units issued. The broker warrants will be exercisable at C$0.15 for 18 months. If the stock trades above C$0.35 for 10 consecutive trading days the warrants will expire 30 days later.
Proceeds from the financing will be used for marketing and advertising, content development and new projects, transaction and related expenses, and working capital and general corporate purposes.
Digital Shelf Space is a Vancouver, B.C. creator, producer and distributor of home entertainment content targeted at the fitness and sports instruction market.
| Issuer: | Digital Shelf Space Corp.
|
| Issue: | Units of stock and 0.5 warrants
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Greenshoe: | 5 million units, or C$0.75 million
|
| Price: | C$0.15
|
| Warrants: | 0.5 per unit
|
| Warrant strike price: | C$0.25
|
| Warrant expiration: | 18 months
|
| Broker: | Fin-XO Securities Inc.
|
| Announcement date: | Feb. 10
|
| Settlement: | Feb. 28
|
| Stock symbol: | TSX Venture: DSS
|
| Stock price: | C$0.15 at close on Friday
|
| Market capitalization: | C$7.9 million
|
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