By Devika Patel
Knoxville, Tenn., March 1 - Formcap Corp. said it plans a $1.05 million private placement of units.
The company will sell 3.5 million units of one common share and a warrant at $0.30 per unit.
Each warrant is exercisable at $0.35 per share for two years.
The development stage company is based in Reno, Nev.
| Issuer: | Formcap Corp.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $1.05 million
|
| Units: | 3.5 million
|
| Price: | $0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.35
|
| Pricing date: | March 1
|
| Stock symbol: | Pink Sheets: FRMC
|
| Stock price: | $0.36 at close Feb. 26
|
| Market capitalization: | $8.76 million
|
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