By Laura Lutz
Des Moines, April 13 - DXStorm.com Inc. intends to conduct a private placement of units for up to C$1 million.
The company plans to sell up to 10 million units of one share and one warrant at C$0.10 per unit. Each warrant will be exercisable at C$0.12 for two years.
As of April 13, the company had received commitments from three of its directors to subscribe for a total of C$650,000 of the placement.
Proceeds of the non-brokered deal will be used for working capital.
DXStorm is a Toronto-based e-business software developer and service provider.
| Issuer: | DXStorm.com Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
| Agent: | Non-brokered
|
| Pricing date: | April 13
|
| Stock symbol: | TSX Venture: DXX
|
| Stock price: | C$0.155 at close April 13
|
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