By Devika Patel
Knoxville, Tenn., Aug. 12 - Eurocontrol Technics Inc. said it has amended the terms of a non-brokered private placement of units, which will now raise C$2 million. This deal priced for C$3 million on July 28.
The company is selling units of one common share and one warrant at C$0.15 each.
The warrants are each exercisable at C$0.20 each for two years. The strike price reflects a 33.33% premium to the July 27 closing share price of C$0.15.
Proceeds will be used for general working capital.
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$2 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | July 28
|
| Amended: | Aug. 12
|
| Stock symbol: | TSX Venture: EUO
|
| Stock price: | C$0.15 at close July 28
|
| Market capitalization: | C$7.5 million
|
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