By Sheri Kasprzak
Atlanta, Feb. 8 - Sylogist Ltd. said it will raise C$3 million in a private placement of stock.
The company will sell 2.5 million shares at C$1.20 each.
Underwriter Canaccord Capital Corp. has an over-allotment option on the offering for 20% of the original shares offered.
The deal is scheduled to close Feb. 23.
In other news at Sylogist, the company said Ronald Cherkas, a senior information technology officer at a major oil and gas company, has joined its board of directors.
Based in Calgary, Alta., Sylogist is an information management and technology solutions company that provides services to government and industry clients. The proceeds from the offering will be used for working capital, including meeting current requirements for recently announced projects.
| Issuer: | Sylogist Ltd.
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| Issue: | Stock
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| Amount: | C$3 million
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| Shares: | 2.5 million
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| Price: | C$1.20
|
| Warrants: | No
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| Underwriter: | Canaccord Capital Corp.
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 23
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| Stock price: | C$1.60 at close Feb. 8
|
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