Pickwick Capital Partners helps sell 6.75 million units at $0.10 each
By Devika Patel
Knoxville, Tenn., May 22 - Viscount Systems, Inc. said it settled a $675,000 private placement of units. Pickwick Capital Partners, LLC was the agent.
The company sold 6.75 million units of one common share and one half-share warrant at $0.10 per unit. Each whole warrant is exercisable at $0.20 for three years. The strike price reflects a 100% premium to the May 21 closing share price of $0.10.
Proceeds will be used for general working capital purposes.
Based in Burnaby, B.C., Viscount is a manufacturer, developer and service provider of access control security products.
| Issuer: | Viscount Systems, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $675,000
|
| Units: | 6.75 million
|
| Price: | $0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.20
|
| Agent: | Pickwick Capital Partners, LLC
|
| Settlement date: | May 22
|
| Stock symbol: | OTCBB: VSYS
|
| Stock price: | $0.10 at close May 21
|
| Market capitalization: | $8.24 million
|
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