Units sold at C$0.40 apiece to fund Verisante Aura commercialization
By Devika Patel
Knoxville, Tenn., March 18 - Verisante Technology, Inc. said it will conduct a non-brokered private placement of units. The company will take in C$5 million.
Verisante will sell 12.5 million units of one share and one warrant at C$0.40 per unit. The warrants are each exercisable at C$0.50 for two years. The warrant strike price is identical to the March 17 closing share price of C$0.50.
Settlement is expected April 15.
Proceeds will be used for the commercialization of Verisante Aura and working capital requirements.
The medical device and diagnostic company is based in Vancouver, B.C.
| Issuer: | Verisante Technology, Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$5 million
|
| Units: | 12.5 million
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | March 18
|
| Settlement date: | April 15
|
| Stock symbol: | TSX Venture: VRS
|
| Stock price: | C$0.53 at close March 18
|
| Market capitalization: | C$19.4 million
|
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