Company sells units of a common share and three-quarters of a warrant
By Devika Patel
Knoxville, Tenn., March 5 - Freeport Capital Inc. said it plans a C$2.7 million private placement of units.
The company will sell units of one common share and three-quarters of a warrant at C$0.90 per unit.
Each whole warrant is exercisable at C$1.25 for 18 months. The strike price reflects a 47.06% premium to the March 4 closing share price of C$0.85.
Capital CCFL senc will be paid a finder's fee.
Proceeds will be used to fund the expansion of the business in the Asia Pacific regions and Latin America as well as for working capital purposes.
Based in Montreal, Freeport Capital provides internet-based point-of-sale technology solutions for businesses and consumers.
| Issuer: | Freeport Capital Inc.
|
| Issue: | Units of one common share and three-quarters of a warrant
|
| Amount: | C$2.7 million
|
| Price: | C$0.90
|
| Warrants: | Three-quarters of a warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.25
|
| Pricing date: | March 5
|
| Stock symbol: | CNSX: FAS
|
| Stock price: | C$0.85 at close March 4
|
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