By Laura Lutz
Des Moines, July 5 - IBF 1 Corp. raised C$1,512,500 from a private placement of units, including C$12,500 from a partially exercised greenshoe.
The company sold 6.05 million units of one share and one warrant at C$0.25 per unit. The greenshoe consisted of 50,000 units.
Each whole warrant will be exercisable at C$0.40 for 18 months.
Canaccord Adams, the agent, had a greenshoe for up to 2 million units.
Proceeds will be used for marketing, sales and distribution; for operating capital, for general and administrative expenses; and for other working capital.
Markham, Ont.-based IBF 1 is the parent company of Gatorz, an eyewear company.
| Issuer: | IBF 1 Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,512,500
|
| Units: | 6.05 million (includes greenshoe for 50,000 units)
|
| Price: | C$0.25
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
| Agent: | Canaccord Adams
|
| Pricing date: | May 31
|
| Settlement date: | July 5
|
| Stock symbol: | TSX Venture: GTZ.S
|
| Stock price: | C$0.25 at close May 30
|
| Stock price: | C$0.25 at close July 5
|
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