By Devika Patel
Knoxville, Tenn., April 30 - International Bio Recovery Corp. said it raised C$1.2 million in a non-brokered private placement of units. The deal priced April 2.
The company sold 15 million units at C$0.08 apiece. Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.15 for two years.
Based in Vancouver, B.C., International Bio Recovery is an environmental biotech company with a proprietary technology to convert organic waste into high value, progressive soil fertility products.
| Issuer: | International Bio Recovery Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.2 million
|
| Units: | 15 million
|
| Price: | C$0.08
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | April 2
|
| Settlement date: | April 30
|
| Stock symbol: | TSX Venture: IBR
|
| Stock price: | C$0.125 at close April 29
|
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