Proceeds slated for global growth objectives, working capital purposes
By Devika Patel
Knoxville, Tenn., Sept. 23 - Noveko International Inc. said it will sell common shares at C$0.60 apiece in a private placement. The company plans to raise between C$4 million and C$10 million.
The per-share price represents a 1.64% discount to the Sept. 22 closing share price of C$0.61. Investors must subscribe for a minimum of C$150,000.
Settlement of an initial tranche is expected on Sept. 30.
Proceeds will be used to pursue the company's global growth objectives, mainly in the filtration sector, as well as for working capital purposes.
Montreal-based Noveko makes antimicrobial filtration technologies and ultrasound scanners.
| Issuer: | Noveko International Inc.
|
| Issue: | Common shares
|
| Amount: | C$4 million (minimum), C$10 million (maximum)
|
| Price: | C$0.60
|
| Warrants: | No
|
| Pricing date: | Sept. 23
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| Settlement date: | Sept. 30
|
| Stock symbol: | Toronto: EKO
|
| Stock price: | C$0.61 at close Sept. 22
|
| Market capitalization: | C$45.56 million
|
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