By Devika Patel
Knoxville, Tenn., April 7 - Eurocontrol Technics Inc. said it plans a non-brokered private placement of special warrants to raise between C$700,000 and C$3 million.
The company will sell the special warrants at C$0.30 each. The special warrants are convertible into units of one common share and one half-share warrant, with each whole two-year warrant exercisable at C$0.40 in the first year and at C$0.50 thereafter.
Settlement is expected on April 29.
Based in Toronto, Eurocontrol makes devices to monitor and control electrical signals.
| Issuer: | Eurocontrol Technics Inc.
|
| Issue: | Special warrants convertible into units of one common share and one half-share warrant
|
| Amount: | C$700,000 (minimum), C$3 million (maximum)
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit upon conversion
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year, C$0.50 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | April 7
|
| Settlement date: | April 29
|
| Stock symbol: | TSX Venture: EUO
|
| Stock price: | C$0.32 at close April 6
|
| Market capitalization: | C$16 million
|
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