By Sheri Kasprzak
Atlanta, April 22 - Imagis Technologies Inc. said it has increased to C$1.7 million its previously announced C$1.5 million private placement of units.
The company will now sell 4.25 million units at C$0.40 each.
The units include one share and one half-share warrant. The full warrants provide for an additional share at C$0.55 each for one year.
According to a statement from the company, Imagis decided to increase the offering because of strong investor demand.
The deal was priced April 14 as a C$1.5 million offering comprised of up to 3.75 million units under the same terms.
Bolder Investment Partners Ltd. is the placement agent.
Based in Vancouver, B.C., Imagis develops and markets software products that allow access to applications and databases. The proceeds from the proposed offering will be used for general operating capital to fund expansion.
| Issuer: | Imagis Technologies Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.7 million
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| Units: | 4.25 million
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.55
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| Placement agent: | Bolder Investment Partners Ltd.
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| Pricing date: | April 14
|
| Upsized: | April 22
|
| Stock price: | C$0.44 at close April 14
|
| Stock price: | C$0.50 at close April 21
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