By Devika Patel
Knoxville, Tenn., Sept. 11 - Everest Ventures Corp. said it has arranged a private placement of units to raise between C$5 million and C$6 million. The company also said it has agreed to complete a business combination with hyperWALLET Systems Inc.
The company will sell units at C$1.00 each.
Each unit is comprised of one share and one half-share warrant. Each whole warrant will be exercisable at C$1.50 for 18 months.
Blackmont Capital Inc. is the agent.
Proceeds will be used for the expansion of hyperWALLET's business and general working capital.
Based in Calgary, Alta., Everest is a capital pool company.
| Issuer: | Everest Ventures Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5 million (minimum), C$6 million (maximum)
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.50
|
| Agent: | Blackmont Capital Inc.
|
| Pricing date: | Sept. 10
|
| Stock symbol: | TSX Venture: EVE.P
|
| Stock price: | C$0.35 at close Sept. 10
|
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