By Devika Patel
Knoxville, Tenn., April 19 - Futura Loyalty Group Inc. said it raised C$150,000 in the final tranche of a C$1.15 million private placement of units. The company announced the deal as a C$1 million offering on Feb. 4, when it raised C$675,000 in the first tranche. The company added a C$1 million greenshoe on April 7 and took in C$325,000 in the second tranche on April 9.
The company sold 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 was 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.
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Issue: | Units of one common share and one warrant
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Amount: | C$1.15 million (including C$150,000 greenshoe)
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Price: | C$0.05
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Warrants: | One warrant per unit
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Warrant expiration: | Five years
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Warrant strike price: | C$0.10
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Agent: | Belweather Capital Partners
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Announcement date: | Feb. 4
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Settlement date: | Feb. 4 (for C$675,000), April 9 (for C$325,000), April 19 (for C$150,000)
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Upsized: | April 7
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Stock symbol: | TSX Venture: FUT
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Stock price: | C$0.02 at close Feb. 3
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Market capitalization: | C$4.68 million
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