By Sheri Kasprzak
New York, June 9 - Noveko International Inc. completed the second tranche of a private placement for C$100,000, bringing the total proceeds to C$2.1 million.
Most recently, the company sold 200,000 units at C$0.50 each.
On April 28, the company issued 4 million units for C$2 million.
The units consist of one share and one fifth-share warrant. The whole warrants are exercisable at C$1.00 each for two years.
The final tranche, for 1.8 million units, may close by June 30.
Montreal-based Noveko designs ultrasound scanners used in veterinary medicine and animal breeding, as well as human medicine.
| Issuer: | Noveko International Inc.
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| Issue: | Units of one share and one fifth-share warrant
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| Amount: | C$2.1 million
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| Units: | 4.2 million
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| Price: | C$0.50
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| Warrants: | One fifth-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | $1.00
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| Settlement date: | June 9 (for second tranche of C$100,000)
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| Settlement date: | June 30 (for final tranche)
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| Stock symbol: | TSX Venture: EKO
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| Stock price: | C$0.50 at close June 9
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