By Sheri Kasprzak
Atlanta, April 25 - Even Technologies Inc. said it plans to raise C$3,055,000 in a non-brokered private placement of units.
The company plans to sell 4.7 million units at C$0.65 each.
The units include one share and one half-share warrant. The whole warrants allow for an additional share at C$1.50 each for eight months.
The company may force the exercise of the warrants if its stock trades above C$2.00 per share for more than 10 consecutive trading days.
Based in Vancouver, B.C., Even conducts research on digital image and video coding techniques. The proceeds from the deal will be used for product development and for general corporate purposes.
| Issuer: | Even Technologies Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$3,055,000
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| Units: | 4.7 million
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| Price: | C$0.65
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Eight months
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| Warrant strike price: | C$1.50
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| Settlement date: | April 22
|
| Stock price: | C$0.70 at close April 22
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