Proceeds used to increase reserve fund and for general working capital
By Devika Patel
Knoxville, Tenn., July 25 - First Global Data Ltd. said it plans a C$1 million non-brokered private placement of units.
The company will sell 7,407,407 units of one common share and one half-share warrant at C$0.135 per unit.
Each two-year warrant is exercisable at C$0.50. The strike price is a 233.33% premium to the July 24 closing share price of C$0.15.
Proceeds will be used to increase the company's reserve fund and for general working capital.
The capital pool company is based in Toronto.
| Issuer: | First Global Data Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 7,407,407
|
| Price: | C$0.135
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike prices: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | July 25
|
| Stock symbol: | TSX Venture: FGD
|
| Stock price: | C$0.15 at close July 24
|
| Market capitalization: | C$14.17 million
|
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