By Devika Patel
Knoxville, Tenn., April 28 - egX Group Inc. said it took in C$468,397 from the first tranche of a C$1 million non-brokered private placement of units. The deal priced Feb. 27.
In this tranche, egX sold 1,873,588 units of one common share and one non-transferable warrant at C$0.25 apiece. The company plans to sell 4 million units total.
Each two-year warrant will be exercisable at C$0.40 in the first year and at C$0.50 in the second year.
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 non-transferable warrant
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year, C$0.50 in the second year.
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 27
|
| Settlement date: | April 28 (for C$468,397)
|
| Stock symbol: | TSX Venture: GFG
|
| Stock price: | C$0.25 at close Feb. 26
|
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