Company sells units of one share, a half-share warrant at C$0.45 each
By Devika Patel
Knoxville, Tenn., Feb. 22 - Noveko International Inc. said it plans a private placement of units. The deal will raise C$5 million.
The company will sell the units at C$0.45 apiece. The units each consist of one class A share and a half-share warrant, with each whole warrant exercisable at C$0.70 for three years. The strike price represents a 75% premium over the Feb. 21 closing share price of C$0.40.
Settlement is expected March 11.
The proceeds will be used to pursue the company's commercialization objectives and for working capital.
Montreal-based Noveko designs and markets ultrasound scanners.
| Issuer: | Noveko International Inc.
|
| Issue: | Units of one class A share and a half-share warrant
|
| Amount: | C$5 million
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.70
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 11
|
| Stock symbol: | Toronto: ECO
|
| Stock price: | C$0.40 at close Feb. 21
|
| Market capitalization: | C$30.11 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
