By Sheri Kasprzak
Atlanta, Nov. 29 - Imagis Technologies Inc. said Monday it has lowered pricing on its previously announced C$1.5 million private placement.
The company will now issue up to 5 million units at C$0.30 each. The units are comprised of one share and one share warrant.
The warrants allow for an additional share at C$0.40 for the first year and C$0.50 for the second.
The offering was originally announced Nov. 5. The deal initially included 3.75 million units at C$0.40 each.
Based in Vancouver, B.C., Imagis develops biometric face and image recognition software for law enforcement, airports and security programs. The company plans to use the proceeds from the financing for general working capital and for the expansion of the company to facilitate future contracts and sales.
| Issuer: | Imagis Technologies Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.5 million
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| Shares: | 5 million units
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| Price: | C$0.30
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.40 for the first year; C$0.50 for the second
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| Announcement date: | Nov. 5
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| Amended: | Nov. 29
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| Stock price: | C$0.35 at close Nov. 5
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| Stock price: | C$0.35 at close Nov. 29
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