By Sheri Kasprzak
New York, June 23 - FirstGrowth Capital Inc. has negotiated a C$2 million private placement.
The non-brokered offering includes 200 units at C$10,000 each.
Each of the units consists of 10,000 shares and one warrant. The warrants are exercisable at C$1.75 each for two years.
The offering will close along with FirstGrowth's acquisition of Kintex Inc., a Calgary, Alta.-based seismic imaging company.
Proceeds will be used for the acquisition and for working capital.
Vancouver, B.C.-based FirstGrowth is a capital pool company.
| Issuer: | FirstGrowth Capital Inc.
|
| Issue: | Units of 10,000 shares and one warrant
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| Amount: | C$2 million
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| Units: | 200
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| Price: | C$10,000
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.75
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| Placement agent: | Non-brokered
|
| Pricing date: | June 22
|
| Stock symbol: | TSX Venture: FGC
|
| Stock price: | C$1.00 at close June 22
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