By Devika Patel
Knoxville, Tenn., Dec. 5 - Verb Exchange Inc. announce it has arranged a C$5.18 million private placement of units.
The company will sell 12,937,500 units at C$0.40 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.60 for 18 months.
Magna Partners Ltd. and Desjardins Securities Inc. are the agents.
Verb will pay a 7.5% cash commission and issue broker options exercisable for a number of units equal to 6% of the units sold at C$0.40 per unit for 18 months.
Proceeds will be used to expand the company's global reach.
Verb Exchange is a communications services provider based in Vancouver, B.C.
| Issuer: | Verb Exchange Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5,175,000
|
| Units: | 12,937,500
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
| Agents: | Magna Partners Ltd. and Desjardins Securities Inc.
|
| Fees: | 7.5% in cash, broker options
|
| Pricing date: | Dec. 5
|
| Stock symbol: | TSX Venture: VEI
|
| Stock price: | C$0.44 at close Dec. 3
|
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