Deal funds growth of VersaPay's business, general corporate purposes
By Devika Patel
Knoxville, Tenn., March 14 - Versapay Corp. said it will conduct a C$2 million private placement of stock. The deal is being conducted on a on a commercially reasonable efforts basis by Wolverton Securities Ltd.
The company will sell 2 million common shares at C$1.00 per share. The price per share reflects a 1.96% discount to the March 13 closing share price of C$1.02.
Proceeds will be used to fund the growth of VersaPay's business and for general corporate purposes.
The Toronto-based financial technology company enables businesses to send and receive payments.
| Issuer: | Versapay Corp.
|
| Issue: | Common shares
|
| Amount: | C$2 million
|
| Shares: | 2 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Agents: | Wolverton Securities Ltd.
|
| Pricing date: | March 14
|
| Stock symbol: | TSX Venture: VPY
|
| Stock price: | C$1.02 at close March 13
|
| Market capitalization: | C$13.47 million
|
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