By Sheri Kasprzak
New York, April 11 - electroBusiness.com Inc. said it has upsized to C$1 million the size of its previously announced C$750,000 private placement.
The company now plans to sell a total of 20 million units of one share and one warrant.
The warrants are exercisable at C$0.10 each for two years.
The deal priced on March 8 as a C$750,000 deal comprised of 15 million units.
The first tranche of the deal, for C$190,000, closed on March 29.
Proceeds will be used for production, development, sales, marketing, infrastructure upgrades and working capital.
Calgary, Alta.-based electroBusiness.com provides document exchange services specializing in the oil and gas, manufacturing, distribution and retail sectors.
| Issuer: | electroBusiness.com Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
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| Placement agent: | Non-brokered
|
| Pricing date: | March 8
|
| Upsized: | April 11
|
| Stock symbol: | TSX Venture: EB
|
| Stock price: | C$0.05 at close March 8
|
| Stock price: | C$0.12 at close April 11
|
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