Offering's proceeds used for acquisition of assets and mineral rights
By Devika Patel
Knoxville, Tenn., Dec. 2 - Multisys Language Solutions, Inc. settled a private placement of units with 25 investors on Nov. 26, according to an 8-K filed Thursday with the Securities and Exchange Commission. The company raised $1.55 million.
The company sold 3.09 million units of two common shares and one three-year warrant at $0.50 per unit. The warrants are each exercisable at $0.50.
Proceeds were used to acquire the Greenfield mineral rights, for the acquisition of the Holms Energy assets, to cover costs of the placement and acquisitions and for general working capital purposes.
Multisys is a Las Vegas-based interactive multimedia language education software distributor.
| Issuer: | Multisys Language Solutions, Inc.
|
| Issue: | Units of two common shares and one warrant
|
| Amount: | $1,545,000
|
| Units: | 3.09 million
|
| Price: | $0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.50
|
| Settlement date: | Nov. 26
|
| Stock symbol: | OTCBB: MLTX
|
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