By Devika Patel
Knoxville, Tenn., Oct. 31 - Raymor Industries Inc. said it raised C$1.02 million in a private placement of units.
The company sold 5,673,333 units of one common share and two half-share warrants at C$0.18 apiece.
The whole series A warrants are exercisable at C$0.25 for one year. The whole series B warrants are exercisable at C$0.55 for 18 months.
Proceeds will be used to finance the acquisition of additional equipment for production of carbon nanotubes and advanced materials (metallic powders and coatings), human resources, development of technologies, commercialization, marketing and working capital purposes.
Raymor is a Boisbriand, Quebec-based developer of nanomaterial production technologies.
| Issuer: | Raymor Industries Inc.
|
| Issue: | Units of one common share and two half-share warrants
|
| Amount: | C$1,021,200
|
| Units: | 5,673,333
|
| Price: | C$0.18
|
| Warrants: | Two half-share warrants per unit
|
| Warrant expiration: | One year (series A), 18 months (series B)
|
| Warrant strike price: | C$0.25 (series A), C$0.55 (series B)
|
| Settlement date: | Nov. 3
|
| Stock symbol: | TSX Venture: RAR
|
| Stock price: | C$0.10 at close Oct. 31
|
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