Deal sells units of a share, half-share warrant at C$0.75 per unit
By Devika Patel
Knoxville, Tenn., June 27 – Mobetize Corp. said it raised $842,125 in a private placement of units.
The company sold 1,122,831 units of one common share and one half-share warrant at $0.75 per unit.
Each whole warrant is exercisable at $1.00 for two years. The strike price is a 4.76% discount to the June 26 closing share price of $1.05.
Based in Blaine, Wash., Mobetize offers mobile commerce, mobile payments and banking services for alternative financial companies, telecom operators, merchants and banks. The company has mobile and online products for remittance, airtime recharge, payments and billing.
| Issuer: | Mobetize Corp.
|
| Issue: | Units of one common share and one half-share warrant
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| Amount: | $842,125
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| Units: | 1,122,831
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| Price: | $0.75
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike prices: | $1.00
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| Settlement dates: | June 27
|
| Stock symbol: | OTCBB: MPAY
|
| Stock price: | $1.05 at close June 26
|
| Market capitalization: | $29.4 million
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