By Sheri Kasprzak
New York, March 2 - DoveCorp Enterprises Inc. priced a C$2 million private placement of units.
The offering includes up to 12.5 million units at C$0.16 each.
The units consist of one share and one half-share warrant with each whole warrant exercisable at C$0.20 for two years.
Expiry of the warrants may be accelerated to 30 days if the average weighted trading price of the company's stock is higher than C$0.40 for 20 consecutive trading days.
Weslosky & Cowans Ltd. is the placement agent.
The deal is set to close March 30.
Proceeds will be used for working capital.
Toronto-based DoveCorp is a dry cleaning and laundry company.
| Issuer: | DoveCorp Enterprises Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 12.5 million
|
| Price: | C$0.16
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Placement agent: | Weslosky & Cowans Ltd.
|
| Pricing date: | March 2
|
| Settlement date: | March 30
|
| Stock symbol: | TSX Venture: DOV
|
| Stock price: | C$0.14 at close March 2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
