Deal sells 8.25 million units of one share and one warrant at C$0.08
By Devika Patel
Knoxville, Tenn., Dec. 17 – Legend Power Systems Inc. said it plans a private placement of units to raise up to C$1.65 million.
The company will sell up to 8.25 million units of one common share and one warrant at C$0.08 per unit.
Each warrant is exercisable at C$0.40 for two years. The strike price reflects an 81.82% premium to the Dec. 16 closing share price of C$0.22.
Proceeds will be used for working capital.
Primary Capital will be paid a 7% finder's fee.
The electrical energy conservation company is based in Burnaby, B.C.
| Issuer: | Legend Power Systems Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.65 million (maximum)
|
| Units: | 8.25 million (maximum)
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Dec. 17
|
| Stock symbol: | TSX Venture: LPS
|
| Stock price: | C$0.22 at close Dec. 16
|
| Market capitalization: | C$14.26 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
