By Laura Lutz
Des Moines, Sept. 18 - Noveko International Inc. settled the last closing of a private placement of 6 million units for total proceeds of C$3 million.
On Sept. 15, the company issued 600,000 units to complete the sale.
The units of one class A share and one fifth-share warrant were sold for C$0.50 per unit. Each full warrant is exercisable at C$1.00 for two years.
The company settled the first tranche, for C$2 million, on April 28. The second tranche closed on June 9 for C$100,000, and the third tranche closed on Sept. 8 for C$600,000.
Following the closing, Noveko has 41,183,882 class A shares outstanding.
Montreal-based Noveko designs ultrasound scanners used in veterinary medicine and animal breeding, as well as human medicine.
| Issuer: | Noveko International Inc.
|
| Issue: | Units of one share and one fifth-share warrant
|
| Amount: | C$3 million
|
| Units: | 6 million
|
| Price: | C$0.50
|
| Warrants: | One fifth-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Settlement date: | Sept. 15 (for final tranche)
|
| Stock symbol: | TSX Venture: EKO
|
| Stock price: | C$0.88 at close on Sept. 15
|
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