By Susanna Moon
Chicago, Sept. 5 - Verb Exchange Inc. said it will conduct a C$1.5 million non-brokered private placement of units.
The company will sell 12.5 million units at C$0.12 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.20 for 18 months.
The exercise period may be reduced to 30 days if the shares trade at C$0.30 or more for 10 consecutive days.
Magna Partners Ltd. will help market the offering to institutional investors.
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$1.5 million
|
| Units: | 12.5 million
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 5
|
| Stock symbol: | TSX Venture: VEI
|
| Stock price: | C$0.15 at close Sept. 4
|
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