Deal sells 20 million common shares, full warrants at C$0.15 per unit
By Devika Patel
Knoxville, Tenn., Feb. 22 - LeoNovus Inc. said it will conduct a C$3 million private placement of units. MGI Securities Inc., the agent, has a 15% greenshoe.
The company will sell 20 million units of one common share and one warrant at C$0.15 per unit. Each three-year warrant will be exercisable at C$0.24. The strike price is a 33.33% premium to C$0.18, the Feb. 21 closing share price.
Settlement is expected March 15.
Proceeds will be used for general corporate purposes.
Based in Palo Alto, Calif., LeoNovus is developing a high-performance, browser-based internet platform that will provide HDTVs and other consumer electronic devices with access to all the features, content and functionality available on the web without the malware, security and support issues of a PC.
| Issuer: | LeoNovus Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Greenshoe: | 15%
|
| Units: | 20 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.24
|
| Agent: | MGI Securities Inc.
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 15
|
| Stock symbol: | TSX Venture: LTV
|
| Stock price: | C$0.18 at close Feb. 21
|
| Market capitalization: | C$9 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.
