By Susanna Moon
Chicago, June 18 - Municipal Solutions Group will raise between C$750,000 and C$1 million in a non-brokered private placement of units.
The company plans to issue up to 2,941,177 units at a price of C$0.34 per unit.
Units consist of one share and one warrant. Warrants for an additional share can be exercised at C$0.50 for two years.
Proceeds will be used for general corporate purposes.
The Victoria, B.C.-based company was formed in January 2002 as the public financing arm for Municipal Software Corp.
Issuer Municipal Solutions Group
| Issue: | Units comprising one share and one warrant
|
| Amount: | Between C$750,000 and C$1 million
|
| Units: | Up to 2,941,177
|
| Price: | C$0.34
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Announcement date: | June 15
|
| Stock symbol: | TSX VENTURE: MSZ
|
| Stock price: | C$0.375 at close June 15
|
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