By Sheri Kasprzak
Atlanta, Jan. 11 - Real Time Measurements Inc. will raise up to C$1 million in a private placement, the company said.
The offering includes a maximum of 6,666,667 units and a minimum of 4 million units at C$0.15 each.
The units are comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.25 each for 18 months.
The deal is being offered to investors in British Columbia and Alberta only.
Octagon Capital Corp. is the placement agent in the offering.
Real Time, based in Calgary, Alta., provides services like data processing and electronic instrument rentals for oil and gas producers. The company plans to use the proceeds from the offering for business expansion, research and development, and general working capital.
| Issuer: | Real Time Measurements Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1 million (maximum)
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| Shares: | 6,666,667 (maximum)
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| Price: | C$0.15
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.25
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| Placement agent: | Octagon Capital Corp.
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| Announcement date: | Jan. 11
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| Stock price: | $0.12 at close Aug. 4 (last trade)
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