Deal sells 14.13 million common shares, warrants at C$0.17 per unit
By Devika Patel
Knoxville, Tenn., Aug. 20 - LeoNovus Inc. said it raised C$2.4 million in a non-brokered and brokered private placement of units.
The company sold a total of 14,134,116 units of one common share and one warrant at C$0.17 per unit.
Each two-year warrant is exercisable at C$0.30. The strike price is a 41.18% premium to C$0.19, the Aug. 19 closing share price.
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$2,402,800
|
| Units: | 14,134,116
|
| Price: | C$0.17
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered, brokered
|
| Settlement date: | Aug. 20
|
| Stock symbol: | TSX Venture: LTV
|
| Stock price: | C$0.19 at close Aug. 19
|
| Market capitalization: | C$15.24 million
|
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