Non-brokered offering sells 8.7 million units with half-share warrants
By Devika Patel
Knoxville, Tenn., Nov. 18 - LX Ventures Inc. said it negotiated a C$3.05 million non-brokered private placement of units on Nov. 15.
The company will sell 8.7 million units of one common share and one half-share warrant at C$0.35 per unit.
Each whole warrant is exercisable at C$0.50 for one year. The strike price is a 42.86% premium to the Nov. 14 closing share price of C$0.35.
Proceeds will be used to accelerate growth of the company's core portfolio investments and to target and close new roll-up acquisitions.
The Vancouver, B.C., company acquires, integrates and accelerates early stage high-growth technology companies.
| Issuer: | LX Ventures Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3,045,000
|
| Units: | 8.7 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 15
|
| Stock symbol: | TSX Venture: LXV
|
| Stock price: | C$0.35 at close Nov. 14
|
| Market capitalization: | C$23.72 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.
