By Devika Patel
Knoxville, Tenn., April 9 - Futura Loyalty Group Inc. said it raised C$325,000 in the second tranche of a C$1 million private placement of units. The company announced the deal Feb. 4, when it raised C$675,000 in the first tranche. The company added a C$1 million greenshoe on April 7.
The company is selling units of one common share and one warrant at C$0.05 per unit. Each whole warrant will be exercisable at C$0.10 for five years.
Belweather Capital Partners is the agent.
Proceeds will be used for sales and operations.
The Toronto company offers a suite of loyalty products and services.
| Issuer: | Futura Loyalty Group Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Greenshoe: | C$1 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.10
|
| Agent: | Belweather Capital Partners
|
| Announcement date: | Feb. 4
|
| Settlement date: | Feb. 4 (for C$675,000), April 9 (for C$325,000)
|
| Upsized: | April 7
|
| Stock symbol: | TSX Venture: FUT
|
| Stock price: | C$0.02 at close Feb. 3
|
| Market capitalization: | C$5.25 million
|
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