By Sheri Kasprzak
New York, Jan. 20 - QRSciences Holdings Ltd. said it intends to raise A$4 million in a private placement.
The deal includes 50 million shares at A$0.08 each offered to sophisticated and other investors.
There is a A$2.4 million over-allotment option included in the offering.
Proceeds will be used for an investment in Spectrum San Diego Inc. and for general working capital.
Based in Perth, Western Australia, QRSciences develops technologies in quadruple resonance, which uses radio frequencies to detect certain materials.
| Issuer: | QRSciences Holdings Ltd.
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| Issue: | Stock
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| Amount: | A$4 million
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| Greenshoe: | For A$2.4 million
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| Shares: | 50 million
|
| Price: | A$0.08
|
| Warrants: | No
|
| Pricing date: | Jan. 20
|
| Stock symbol: | Australia: QRS
|
| Stock price: | A$0.086 at close Jan. 20
|
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