By Devika Patel
Knoxville, Tenn., April 16 - Radiant Communications Corp. said it has completed a C$1.55 million non-brokered private placement of stock with Maxam Opportunities Fund LP and Maxam Opportunities Fund (International) LP. It also raised an additional C$2.65 million in a non-brokered private placement of stock with Pender Growth Fund (VCC) Inc. The deals priced on April 7.
The company sold 1.55 million common shares at C$1.00 apiece to Maxam Opportunities Fund and Maxam Opportunities Fund (International). It sold 2.65 million shares to Pender Growth Fund.
Proceeds will be used to fund potential acquisitions and the roll-out of Ethernet First Mile equipment across Canada.
Based in Vancouver, B.C., Radiant provides internet protocol data communications services, including broadband, internet access, web hosting and web development services.
| Issuer: | Radiant Communications Corp.
|
| Issue: | Ordinary shares
|
| Amount: | C$4.2 million
|
| Shares: | 4.2 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Maxam Opportunities Fund LP and Maxam Opportunities Fund (International) LP (for C$1.55 million), Pender Growth Fund (VCC) Inc. (for C$2.65 million)
|
| Pricing date: | April 7
|
| Settlement date: | April 16
|
| Stock symbol: | TSX Venture: RCN
|
| Stock price: | C$1.00 at close April 7
|
| Market capitalization: | C$10.9 million
|
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