Deal sells units of a share, a half-share warrant at C$1.00 per unit
By Devika Patel
Knoxville, Tenn., Dec. 11 – Mobetize Corp. raised $490,000 in a private placement of units on Dec. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 490,000 units of one common share and one half-share warrant at $1.00 per unit.
Each whole warrant is exercisable at $1.25 for three years. The strike price is a 25% premium to the Dec. 10 closing share price of $1.00.
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.
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| Issue: | Units of one common share and one half-share warrant
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| Amount: | $490,000
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| Units: | 490,000
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| Price: | $1.00
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike prices: | $1.25
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| Settlement dates: | Dec. 11
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| Stock symbol: | OTCBB: MPAY
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| Stock price: | $1.00 at close Dec. 10
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| Market capitalization: | $29.5 million
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