Deal sells 9.7 million common shares, full warrants at C$0.23 per unit
By Devika Patel
Knoxville, Tenn., Jan. 17 - LeoNovus Inc. said it will conduct a C$2.23 million non- brokered private placement of units.
The company will sell 9.7 million units of one common share and one warrant at C$0.23 per unit.
Each two-year warrant will be exercisable at C$0.40, a 60% premium to C$0.25, the Jan. 16 closing share price of C$0.23.
An insider is expected to purchase up to 41.24% of the units, if the offering is fully subscribed.
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$2,231,000
|
| Units: | 9.7 million
|
| Price: | C$0.23
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non- brokered
|
| Pricing date: | Jan. 17
|
| Stock symbol: | TSX Venture: LTV
|
| Stock price: | C$0.25 at close Jan. 16
|
| Market capitalization: | C$25.57 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.
