Deal sells 5 million units of one share, one warrant at C$0.20 apiece
By Devika Patel
Knoxville, Tenn., Aug. 9 - Functional Technologies Corp. said it raised C$445,000 in the first tranche of a C$1 million non-brokered private placement of units. The deal priced on July 16.
The company is selling 5 million units of one common share and one warrant at C$0.20 per unit. It sold 2,225,000 units in the initial tranche.
Each warrant will be exercisable at C$0.30 for two years. The strike price reflects a 15.39% premium to the July 13 closing share price of C$0.26.
Vancouver, B.C-based Functional Technologies is a functional foods and biological health products company that develops and commercializes advanced yeast products and other novel biological products for the food and the health care industries.
Issuer: | Functional Technologies Corp.
|
Issue: | Units of one common share and one warrant
|
Amount: | C$1 million
|
Units: | 5 million
|
Price: | C$0.20
|
Warrants: | One warrant per unit
|
Warrant expiration: | Two years
|
Warrant strike price: | C$0.30
|
Agent: | Non-brokered
|
Pricing date: | July 16
|
Settlement date: | Aug. 9 (for C$445,000)
|
Stock symbol: | TSX Venture: FEB
|
Stock price: | C$0.26 at close July 13
|
Market capitalization: | C$8.67 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.