By Sheri Kasprzak
Atlanta, April 27 - NHC Communications Inc. said it has wrapped a private placement for C$1.06 million.
The company sold 1,009,523 shares at C$1.05 each to a third-party investor.
In other news, NHC said it closed the final tranche of its previously announced C$1 million convertible debentures offering for C$300,000. Those debentures bear interest at 5% annually, mature in two years and are convertible into common stock at C$0.55 each. The investors also received warrants for 1,818,181 shares at C$0.69 each.
Based in Montreal, NHC distributes frames and cross-connect materials for the copper-based telecommunications market. It plans to use the proceeds for working capital and general corporate purposes.
| Issuer: | NHC Communications Inc.
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| Issue: | Stock
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| Amount: | C$1.06 million
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| Shares: | 1,009,523
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| Price: | C$1.05
|
| Warrants: | No
|
| Settlement date: | April 27
|
| Stock price: | C$0.49 at close April 26
|
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