Company sells 8,333,334 units of one share and one warrant at C$0.18
By Devika Patel
Knoxville, Tenn., Feb. 28 - Lateral Capital Corp. said it plans a C$1.5 million private placement of units.
The company will sell 8,333,334 units of one common share and one warrant at C$0.18 per unit.
Each five-year warrant is exercisable at C$0.18, a 200% premium to the Feb. 27 closing share price of C$0.06.
Proceeds will be used for working capital purposes and the company's planned acquisition of Vector Exploration Corp.
Lateral is a capital pool company based in Calgary, Alta.
| Issuer: | Lateral Capital Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 8,333,334
|
| Price: | C$0.18
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.18
|
| Pricing date: | Feb. 28
|
| Stock symbol: | TSX Venture: LCP
|
| Stock price: | C$0.06 at close Feb. 27
|
| Market capitalization: | C$3.09 million
|
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