By Sheri Kasprzak
Atlanta, March 31 - International Barrier Technology Inc. has closed an upsized private placement for C$1,416,000.
The company sold 2.4 million units at C$0.59 each.
The units include one share and one warrant. The warrants allow for an additional share at C$0.74 each for two years.
The offering was first announced Feb. 15 as a C$1,239,000 offering of 2.1 million units under the same terms.
Carl Marks IB LLC purchased 700,000 units and now owns 18% of International Barrier's common shares.
International Barrier, based in Watkins, Manitoba, develops, manufactures and markets fire-resistant building materials.
| Issuer: | International Barrier Technology Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,416,000
|
| Units: | 2.4 million
|
| Price: | C$0.59
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.74
|
| Investors: | Carl Marks IB LLC
|
| Pricing date: | Feb. 15
|
| Settlement date: | March 30
|
| Stock price: | C$0.62 at close Feb. 15
|
| Stock price: | C$0.57 at close March 30
|
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