By Devika Patel
Knoxville, Tenn., Oct. 27 - egX Group Inc. said it is amending the terms of a non-brokered private placement of units that priced Sept. 15. The company now plans to raise C$1 million instead of C$1.5 million.
The company now will sell 20 million units at C$0.05 apiece, instead of 10 million units at C$0.15 apiece.
Each unit still consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.10, instead of at C$0.25, for two years, subject to acceleration under certain conditions.
Proceeds will be used for the continuing deployment of egX Canada and ongoing operations.
Based in Vancouver, B.C., egX is engaged in developing the egX, a global securities exchange system designed for the listing and trading of real estate securities and related financial products.
| Issuer: | egX Group Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 15
|
| Amended: | Oct. 24
|
| Stock symbol: | TSX Venture: GFG
|
| Stock price: | C$0.155 at close Sept. 12
|
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