Company sells 12,223,750 units of one share and one one-year warrant
By Devika Patel
Knoxville, Tenn., Feb. 3 – EXO U Inc. said it will not complete the planned second tranche of a private placement of units that priced for C$4 million on Oct. 5. The deal was conducted by Mackie Research Capital Corp. and raised C$2.45 million on Oct. 23.
The company sold 12,223,750 units of one common share and one warrant at C$0.20 per unit.
Each one-year warrant is exercisable at C$0.35. The strike price reflects a 12.5% discount to the Oct. 2 closing share price of C$0.40.
Proceeds will be used for general corporate and working capital purposes.
The enterprise software company is based in Montreal.
| Issuer: | EXO U Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,444,750
|
| Units: | 12,223,750
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Agent: | Mackie Research Capital Corp.
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 23
|
| Revised: | Feb. 3
|
| Stock symbol: | TSX Venture: EXO
|
| Stock price: | C$0.40 at close Oct. 2
|
| Market capitalization: | C$2.22 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
