Units sold at C$0.10 each to fund working capital, corporate purposes
By Devika Patel
Knoxville, Tenn., May 9 - Digital Shelf Space Corp. said it raised C$364,000 in the second and final tranche of a C$3 million non-brokered private placement of units. The deal priced on April 23 and raised C$2.64 million on April 30.
The company sold 30 million units of one common share and one warrant at C$0.10 per unit. It sold 26.36 million units in the first tranche and 3.64 million units in the second.
Each warrant is exercisable at C$0.15 for one year. The strike price is identical to the April 22 closing share price.
Proceeds will be used for 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 one warrant
|
| Amount: | C$3 million
|
| Units: | 30 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | April 23
|
| Settlement date: | April 30 (for C$2,636,000), May 9 (for C$364,000)
|
| Stock symbol: | TSX Venture: DSS
|
| Stock price: | C$0.15 at close April 22
|
| Market capitalization: | C$3.98 million
|
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