By Devika Patel
Knoxville, Tenn., Aug. 28 - Eurocontrol Technics Inc. said it will not be closing the second tranche of a non-brokered private placement of units. The deal priced for C$1 million on May 8 and was increased to C$1.5 million on June 15. The company raised C$1.06 million in the first tranche on July 6.
The company sold 6,253,002 units of one common share and one warrant at C$0.17 apiece in this deal.
The warrants are exercisable at C$0.25 for one year.
Proceeds will be used for general corporate purposes.
Based in Toronto, Eurocontrol makes devices to monitor and control electrical signals.
| Issuer: | Eurocontrol Technics Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,063,010
|
| Units: | 6,253,002
|
| Price: | C$0.17
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | May 8
|
| Upsized: | June 15
|
| Settlement date: | July 6
|
| Stock symbol: | TSX Venture: EUO
|
| Stock price: | C$0.19 at close May 8
|
| Market capitalization: | C$12.3 million
|
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