By Laura Lutz
Washington, Feb. 22 - Fireswirl Technologies Inc. completed an upsized private placement of units for C$4.5 million.
The company sold 3 million units of one share and one half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.25 for two years.
Exercise of the warrants will be forced if the company's stock trades above $1.50 for 30 consecutive days.
The deal priced on Jan. 31 as a C$3 million offering of up to 3 million units.
Proceeds of the non-brokered placement will be used for working capital.
Based in Vancouver, B.C., Fireswirl provides electronic and mobile-commerce technology for content providers.
| Issuer: | Fireswirl Technologies Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4.5 million
|
| Units: | 3 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.25
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 22
|
| Stock symbol: | TSX Venture: FSW
|
| Stock price: | C$1.19 at close Jan. 31
|
| Stock price: | C$1.36 at close Feb. 22
|
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